McLean: Fed rate cuts consistently bail out big business over small firms
Bethany McLean · Your pandemic business takeaways are wrong | Masters of Scale · Nov 9, 2023 · at 13:07
Journalist and author Bethany McLean discusses structural market inequalities and how Federal Reserve monetary policy disproportionately protects large corporations over small enterprises during economic crises.
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“Every time big business has gotten in trouble, the Fed has stepped in by lowering interest rates, and big business then can access, even failing big businesses, can access the capital markets on incredibly good terms. That's a luxury that isn't available to smaller business, and yet we don't really think about that funding imbalance as part of the world we live in.”
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