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Ever since Fed Chair Jerome Powell announced the Fed’s rescue package at the start of the pandemic, many progressives have criticized it for favoring the rich. The idea was that, in addition to pushing the short-term federal funds rate to zero, Powell also engaged in large-scale purchases of long-term bonds. These bonds included government bonds, More
The post Is There a Progressive Case Against Quantitative Easing? appeared first on CounterPunch.org.
This content originally appeared on CounterPunch.org and was authored by Dean Baker.