St. Louis Fed president James Bullard joins Matthew Winkler of Bloomberg News to discuss monetary policy and its effects on economic inequality. Bullard describes the life-cycle model of the economy and explains that a significant amount of income and wealth inequality is normal in an economy where the young and old are much less productive than those in their peak earning years. He advocates for policy interventions that recognize this fact and are targeted narrowly toward the excess inequality that cannot be evened out through functioning credit markets. Bullard also gives his thoughts on the state of the U.S. economic recovery and declares his support for a return to a more conventional monetary policy environment.
The C. Peter McColough Series on International Economics is presented by the Corporate Program and the Maurice R. Greenberg Center for Geoeconomic Studies.
Speaker:
James Bullard, President and Chief Executive Officer, Federal
Reserve Bank of St. Louis
Presider:
Matthew Winkler, Editor-in-Chief, Bloomberg News
bloomberg news live St. Louis Fed President Bullard on Monetary Policy and Economic Inequality | |
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