- Views on the Economy and the World
Populist politicians, among others, have claimed in recent years that monetary policy is too easy and that it is hurting ordinary workers. But raising interest rates is not the way to address income inequality.It is a strange claim for anyone to make, but especially for populists. Low interest rates are good for debtors, of course, and bad for creditors. Throughout most of US history, populists have supported easy monetary policy and low interest rates, to help the little guy, against bankers, who had hard hearts and believed in hard money.