Fed can boost power of fiscal spending in communities – Harker and Rajan

Raghuram Rajan

The Federal Reserve can help fiscal authorities deal with the acceleration of inequality caused by the Covid-19 pandemic, say Patrick Harker, Philadelphia Fed president, and Raghuram Rajan, former governor of the Reserve Bank of India.

Across a number of metrics, the pandemic has exacerbated economic divisions already present in society, Harker and Rajan said during a May 28 webcast. They highlight that the young, moderately educated and minority groups are all facing more severe economic

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