It’s early days, but the Federal Reserve “bazooka” has mostly impacted the 1%
As we head into the second month of pandemic lockdown, two parallel narratives are developing about the financial rescue. In one, ordinary people receive aid through programs that are piecemeal, complex, and riddled with conditions.
Meanwhile, “relief” programs aimed at the top income levels were immediate, staggering in size and scope, and often appeared as grants rather than loans.
Read full essay — it damns the Trump Administration in c ompelling terms.
