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" Ironically, some of the same critics who said we were hurting savers also said that our policies were making rich people richer. (Since rich people save more than everyone else, apparently we were both hurting and helping these folks.) The critics based their argument on the fact that lower interest rates tend to raise prices for assets such as stocks and houses. Wealthy people own more stocks and real estate than the nonwealthy. However, this argument misses the fact that lower interest rates also reduce the returns that the wealthy earn on their assets. The better way to look at the distributional effect of monetary policy is to compare changes in the income flowing from capital investments with the income from labor. As it turns out, easier monetary policy tends to affect capital and labor incomes fairly similarly. Most importantly in a weak economy, it promotes job creation, which especially helps the middle class. "

Ben S. Bernanke , The Courage to Act: A Memoir of a Crisis and Its Aftermath


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Ben S. Bernanke quote : Ironically, some of the same critics who said we were hurting savers also said that our policies were making rich people richer. (Since rich people save more than everyone else, apparently we were both hurting and helping these folks.) The critics based their argument on the fact that lower interest rates tend to raise prices for assets such as stocks and houses. Wealthy people own more stocks and real estate than the nonwealthy. However, this argument misses the fact that lower interest rates also reduce the returns that the wealthy earn on their assets. The better way to look at the distributional effect of monetary policy is to compare changes in the income flowing from capital investments with the income from labor. As it turns out, easier monetary policy tends to affect capital and labor incomes fairly similarly. Most importantly in a weak economy, it promotes job creation, which especially helps the middle class.