Fed can boost power of fiscal spending in communities – Harker and Rajan
Targeted fiscal policies are needed to address concerns over inequality, they say
The Federal Reserve can help fiscal authorities deal with the acceleration of inequality caused by the Covid-19 pandemic, say Patrick Harker, Philadelphia Fed president, and Raghuram Rajan, former governor of the Reserve Bank of India.
Across a number of metrics, the pandemic has exacerbated economic divisions already present in society, Harker and Rajan said during a May 28 webcast. They highlight that the young, moderately educated and minority groups are all facing more severe economic
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