The Fed doesn’t account for inequality

Betsy Vereckey, “Should central banks address inequality? Experts weigh in,” MIT Sloan School of Management, 8-3-21, https://mitsloan.mit.edu/ideas-made-to-matter/should-central-banks-address-inequality-experts-weigh

Should central banks be proactive in partnering to help address inequality?

Bullard noted that Federal Reserve banks have partnered with other institutions in the banking sector as well as with nonprofits to establish community development programs and programs directed toward financial inclusion. However, he noted that these initiatives by intent do “not cross over to monetary policy itself.”