"I am not willing to trade millions of jobs for people who need a ladder rung up in order to keep the stock market from going up for a few who have those holdings," Daly said while answering questions following a speech on - what else - racial inequality at a virtual event Tuesday hosted by the University of California, Irvine."We can't wait another decade to reduce the gaps that Covid has caused", which of course is bullshit, because long before the US economy entered the covid crisis inequality was already at record highs. Don't believe us? Here is a chart from... the Federal Reserve.Unconvinced? Here is a report from none other than Daly's own Federal Reserve which in August explained that wage growth has been an illusion (it appropriately forgot to name the culprit)
And while we can see why the Fed would be absolutely desperate to pass of a decade of its catastrophic monetary policies making the rich richer as the fault of covid - in a time of ad hoc street riots, who knows when the Marriner Eccles building will be next - nobody is dumb enough to believe the Fed's lies any more.