The Federal Reserve has been blamed by many for the rampant wealth inequality in the US, primarily because of “quantitative easing” (QE) — creating money seemingly out of thin air. But while they may have a role in wealth inequality, it’s more nuanced than it seems. Japan, the Eurozone, and the United Kingdom all did more QE than the US yet have less wealth inequality. Thus, instead, it’s put forth that central banks don’t have as big of an effect on wealth inequality when compared to fiscal policies. Read full article here
Research
Improving media literacy could boost trust towards the news, IMPRESS report suggests
The UK media is regulated by the likes of IPSO and Ofcom. The report by press regulator IMPRESS highlights the link between low levels of media literacy and trust in the news. The study found that three quarters of those who did not know if journalists were regulated did not trust the news. It suggests that improving media literacy is one way to stem the erosion of trust, and shows that audiences have an appetite for information on news processes. Stakeholders need to collaborate in order to rebuild trust in the news, and independent media is well placed to do this. Read full article here
Merv
February 1, 2023
