jerome h powell
- Despite the intent that they would fund jobs and capital investments, the 2017 tax cuts have largely funded share buybacks, which hit a record $1.1 trillion in 2018. The big winners were corporations, large shareholders and top corporate executives.
- Janet Yellen did a good job managing tensions as Fed leader. Jerome Powell may or may not continue along her path. If taxes and Fed policy both end up favoring the wealthy, we may be starting down a road to high-tech feudalism. Do we really want to go there?