Christopher Caldwell writing in the FT. Does the claim withstand scrutiny by economists? Did the Trump administration effect the “first sustained downward redistribution of income and wealth since the last century?”pic.twitter.com/zPEiijWKhF
1. Writer, The Nation https://www.thenation.com/authors/jeet-heer/ … 2. email: jeetheer1967 at gmail dot com 3. Twitter essayist 4. Drawn by Joe Ollmann
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Christopher Caldwell writing in the FT. Does the claim withstand scrutiny by economists? Did the Trump administration effect the “first sustained downward redistribution of income and wealth since the last century?”pic.twitter.com/zPEiijWKhF
What we can definitely say is that Trump encouraged the economy to keep running hot at a time when a fiscal or monetary hawk might have tapped the brakes. More controversially his immigration cuts might have played some role. But the trend began before he took office.
Trump advocacy of easy money was a good thing and helped, definitely, but he also benefitted from Federal Reserve finally listening (even before he took office) to those argued against inflation hawks on behalf of full employment.
True.
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