An Obama appointee and the CEO of Pacific Investment told a crowd at
the National Press Club that Obama’s economic policies have fostered
income inequality and that political squabbling is stalling economic
recovery.
Mohamed El-Erian, CEO of Pacific Investment and chairman of the White House Global Development Council, blamed the administration’s reaction to the Great Recession for increasing income inequality. Rather than launching vast infrastructure projects to put people to work, the government has created a larger supply of money using quantitative easing (QE).
The Federal Reserve has flooded America’s largest banks with billions of dollars via this process in the hopes that banks will pump that money into the economy.
This easy money policy has fueled a surging stock market that does not reflect the true value of America’s economic production. It is a sugar high that will have to come down unless something is done, according to El-Erian.
http://freebeacon.com/obama-appointee-says-obamas-policies-have-stalled-economy/
Mohamed El-Erian, CEO of Pacific Investment and chairman of the White House Global Development Council, blamed the administration’s reaction to the Great Recession for increasing income inequality. Rather than launching vast infrastructure projects to put people to work, the government has created a larger supply of money using quantitative easing (QE).
The Federal Reserve has flooded America’s largest banks with billions of dollars via this process in the hopes that banks will pump that money into the economy.
This easy money policy has fueled a surging stock market that does not reflect the true value of America’s economic production. It is a sugar high that will have to come down unless something is done, according to El-Erian.
http://freebeacon.com/obama-appointee-says-obamas-policies-have-stalled-economy/
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