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#10: William White on the Undesired Side Effects of Experimental Monetary Policy
Superinvestors and the Art of Worldly Wisdom
The Effects of Monetary Policy on Wealth Distribution
"I wouldn't put monetary policy and high prices of financial assets owned by richer people, number one in the driver's seat for the increase in both income and wealth inequality," he says. "So all of these things seems to me are, you know, potentially reversible, and then the question becomes, well, what will be the fallout?" The answers we don't know, but it's likely to be unpleasant, Obama adds.
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