Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How can i respond to this? in 150-200_word reply, read the paragraph below and disagree with it and set it straight. First, it's important to

How can i respond to this?

in 150-200_word reply, read the paragraph below and disagree with it and set it straight.

First, it's important to define the specific terms to fully break down the criticism. Main Street is the name for local or small businesses or consumers, while Wall Street is in reference to large investors and global businesses. The general idea of the criticism is that, particularly in times of crisis, the Federal Reserve prioritizes large investors and global businesses and leave smaller businesses and consumers to figure things out on their own at best, or at worst, actively harm Main Street. Although the criticisms have existed for a long time, I feel the response to the financial crisis caused by the COVID-19 pandemic illustrates why this criticism is justified. In light of mass layoffs and many small businesses having to close permanently, the Federal Reserve took action that primarily would help Wall Street more than anything. The idea was that by helping large investors, the wealth will eventually filter down to Main Street. However, any help for Main Street this provided was too little, too late. Additionally, the actions made to aid Main Street, such as loans for middle-market businesses, seem over complicated and ultimately did little to help. Overall, the strategy has largely seemed to be to help Wall Street and hope Main Street will figure itself out. I personally don't think this is a deliberate preference with any malicious intent, but instead just a scramble to fix economic problems with the lack of help for Main Street being an oversight. Still, just because it's not intentional, doesn't mean it doesn't deserve criticism.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Data Analytics For Accounting

Authors: Vernon Richardson

2nd Edition

1260904334, 9781260904338

More Books

Students also viewed these Economics questions

Question

5. Give some examples of hidden knowledge.

Answered: 1 week ago