Quote

Critics, often for good reason, are concerned that the Fed is wielding its vast powers in the interests of the banks and not in the interests of the people. After the financial crisis, Americans have perceived that the banks have been bailed out, but a significant proportion of the population is still in serious economic trouble.

Gerald Epstein

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Gerald Epstein
Age: 83 †
Born: 1935
Born: November 6
Died: 2019
Died: February 18
Author
Psychiatrist
Economic
Critics
Perceived
Interest
Population
Banks
Often
Financial
Feds
Stills
Crisis
Proportion
Still
Americans
Vast
Reason
Concerned
Powers
Good
Serious
Interests
Bailed
People
Trouble
Significant
Wielding

More quotes by Gerald Epstein

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The Fed has a lot of power in the economy because it has a big impact on the supply and cost of credit, that is, interest rates. It also plays a key role in supervising banks and historically has seemed to take it easy on the banks when it shouldn't have, such as in the lead up to the financial crisis.
Gerald Epstein
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What does remembering ourselves mean? It essentially means coming back to life- re-membering.
Gerald Epstein
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Increases in interest rates normally worsen inequality, at least partly by reducing employment and wage growth.
Gerald Epstein
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People in America get really angry at the Federal Reserve and at the money system in general during economic crises. The Fed draws hostility because of its power, its insulation from democratic accountability, its lack of transparency, and because of its historical and structural connections to finance.
Gerald Epstein
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Here's the interesting thing: the fact that QE and lowering interest rates almost to zero has worsened inequality, does not mean that raising interest rates will help reduce inequality.
Gerald Epstein
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The right wants to destroy the power of the Fed to increase the power of finance and the progressives want to reorient the Fed so that it will stop protecting the interests of finance and protect the interests of the broader population instead.
Gerald Epstein
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When we give up our goals and concentrate diligently on the practices of our lives, we increase self-mastery and move toward the invisible universe, toward Spirit, to receive the wonders and miracles the universe has to offer us.
Gerald Epstein
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QE and other aspects of Fed policy increased inequality pretty significantly. This is reinforced if you take into account all the other non-standard measures the Fed used to bail out the banks early on in the [2008] crisis.
Gerald Epstein