Scott Bessent
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Appearances Over Time
Podcast Appearances
I called the Fed the engine of inequality.
And someone said to me, well, do you believe that the Fed is responsible for economic equality in the system?
And I said, absolutely not.
That is not one of their mandates, but they shouldn't be exacerbating it.
And they were the leading cause of it.
There's a fantastic book by a, I know Karen Petteroo very well.
She's
center left to maybe hard.
Yeah.
Not, not your politics for sure.
Not my politics, but her book, the fed, the engine book is excellent.
Yeah.
Uh, engine of inequality.
So we just kept pushing up these asset prices.
And then, then we got COVID and, uh,
markets became disorderly.
And the Fed did exactly what it should do.
It came in, it stabilized the markets.
But for some reason, they decided that they needed to continue this QE right up until February, March of 2023.
And they were, in essence, financing the