- During public interviews, US Fed Chair Jerome Powell increasingly mentions the growing homeless encampments nearby the Federal Reserve office building.
- Despite the Fed injecting trillions into the US financial system since Covid, Powell points out the encampments as a disturbing example of how monetary stimulus hasn’t helped many poor.
- The Fed’s actions have mainly helped the wealthy by sparking asset inflation (eg higher stock, real-estate prices), bypassing the asset-less poor.
- Article interviews tent camp residents, many of whom were working-poor (not homeless) pre-Covid.
