Bernanke Mocks Concerns of QE Worsened Income Inequality: As If Hedge Fund Managers ‘Care’

EXCERPT:

BERNANKE: “Yeah, I think there are some folks who do not like QE. And as each argument fails, they move down the ladder, so now you have hedge fund manager writing to 'Wall Street Journal' how QE is creating inequality. As if they cared. I have never seen an academic paper that asserts that QE creates inequality. Yes, it supports asset crisis, as does any successful economic program, would cause stock prices to help recover, but it also has contributed to 16-17 million new jobs. What’s more important to middle class than job creation? It also supports house price increases, it lowers interest rates that borrowers, including mortgage borrowers, have to pay."