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June 26, 2014
St. Louis Fed President James Bullard addressed three questions concerning U.S. monetary policy and income inequality during remarks at a Council on Foreign Relations event. He discussed whether quantitative easing affects income inequality, the impact a higher inflation target may have on the poor, and whether current monetary policy hurts savers.
Following his prepared remarks, titled "Income Inequality and Monetary Policy: A Framework with Answers to Three Questions," President Bullard answered questions on his outlook for economic growth, inflation and unemployment; the FOMC's reinvestment policy; and income, wealth and consumption inequality.
Video courtesy of the Council on Foreign Relations.
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Executive Assistant to the President
Senior Vice President and Chief of Staff to the President
Cletus C. Coughlin
Senior Economist and Special Assistant to the President
"Rationally, let it be said in a whisper, experience is certainly worth more than theory."