Question
See article by Raskin. Note that this article was written during the days of very accommodative Federal Reserve Policy (low interest rates) during the years
See article by Raskin. Note that this article was written during the days of very accommodative Federal Reserve Policy (low interest rates) during the years following the Great Recession some 15 years ago. Now the Fed has been dramatically raising rates in order, it argues, to combat inflation. Both the "accommodative" and the "restrictive" policies of the Fed are intended to mend the macroeconomy. But we can see that both can also have detrimental effects as well. Raskin argues that the different economic experiences of the middle to lower participants in the economy should be taken into account when forming monetary policy. Fundamental question: is one group or another deserving of special consideration when developing monetary and fiscal policy? Do some people ever have special rights or entitlements, are they due special ethical consideration over others? Why or why not?
https://www.federalreserve.gov/newsevents/speech/raskin20130418a.htm
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