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The U.S. Federal Reserve and the populist movements of 2016 of Trump and Sanders
08/26/2016
By missing the signals of the bubble in financial markets and letting the mortgage crisis develop upto the point that the overleveraged banks had to be rescued and the global economy went into a deep recession, the U.S. Fed created the conditions for the populist movements of 2016. Very low rates designed to help the economy recover hurt savers, further depressing the financial assets of the middle and working class. The lack of access to public colleges hurt upward mobility, and the high cost of tution led to parents assuming large amounts of student debt further depressing their condition. The assets of middle and working class people revealed at a Boston Fed sponsored Inequality conference in Oct. 2014 were shocking- the average net worth of the lower half of the distribution in the U.S., or 62 million households was an average of $11,000, with one quarter at zero net worth, according to Janet Yellen, the chairman of the Fed, America's central bank.
Grouped Articles
Years of Fed Missteps Fueled Disillusion With the Economy and Washington
WSJ 08.26.2016
From Trump to Brexit rhetoric: how today's politicians have got away with words
The Guardian 08.27.2016
Apple should repay Ireland 13bn euros, European Commission rules - BBC News
BBC News 08.30.2016
Apple must now pay its taxes. This is a vindication of protest | Owen Jones
The Guardian 08.30.2016
The Economic Expansion Is Helping the Middle Class, Finally
The New York Times 09.13.2016
Fed, With 3 Officials in Dissent, Stands Firm on Interest Rates While Noting Improving Economy
The New York Times 09.21.2016
Stretch of Market Volatility Makes It Stormy at the Top
The New York Times 07.15.2016
Fed Raises Rates for First Time in 2016, Anticipates 3 Increases in 2017
WSJ 12.14.2016
Yellen: Globalization, Technological Change Have Been Harmful to Many
WSJ 06.27.2017
Washington Post 08.26.2017
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