"I'm often surprised that, you know, you encounter all types of humanity. And very often, there are some very decent people who don't stereotype even when you might, in your own mind, have stereotyped them to think that they will."

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The Fed cannot reduce inequality on its own; far from it. This requires a concerted effort by the government, broadly speaking, to support a variety of efforts. These include things like raising the federal minimum wage, eliminating unfair restrictions on union organizing, increased fiscal spending on needed infrastructure with a condition that these jobs will be decent paying jobs. Of course, this is just the tip of the iceberg, and far from the question of the role of the Federal Reserve.

— Gerald Epstein