Kevin Warsh: Fed policy is reverse Robin Hood NEW YORK (MarketWatch) -- The Federal Reserves easy-money policies are benefiting the rich at the expense of the poor in a reverse Robin Hood scenario, said Kevin Warsh, a former member of the Federal Reserve System Board of Governors. In an interview on CNBC Thursday, Warsh, who is currently a fellow at Stanford Universitys Hoover Institution, criticized the central banks current low-rate policies, which he said are nearly as strong as they were during the depths of the crisis. He suggested that normalizing interest rates would help jump-start business investment and speed up economic growth. Warsh said that We need to get a normal-looking interest-rate curve, adding that the Fed needs to overcome the sense that its stuck in a zero-rate environment June 26, 2014, 7:27 a.m. EDT marketwatch/story/kevin-warsh-fed-policy-is-reverse-robin-hood-2014-06-26?dist=countdown
Posted on: Thu, 26 Jun 2014 19:28:05 +0000
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