Former Governor Warsh Slams Fed’s ‘Reverse Robin Hood’ Policies

–  Former Governor Warsh Slams Fed’s “Reverse Robin Hood” Policies (ZeroHedge, June 26, 2014):

Isn’t it odd that when ‘officials’ are no longer part of the status-quo-sustainers, how the truthiness flows… As former Fed Governor Kevin Warsh explained this morning, “on the fairness point – if you have access to credit, if you’ve got a big balance sheet, the Fed has made you richer,” concluding rather too honestly for some people’s liking, “I would say [Fed policy] has been in some sense Reverse Robin Hood.” The bottom line, he chides, “this is a way to make the well to do more well to do because that’s all the Federal Reserve can do.”

 

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