Janet Yellen Brookings Institution/Flickr

Como o Fed Reduziu a Desigualdade

NOVA IORQUE – A Reserva Federal dos EUA aumentou finalmente as taxas de juro, pela primeira vez em quase uma década. As ramificações para os spreads de taxa de juro, para os títulos em mercados emergentes, e para a procura de casas, entre muitos outros, são tema para um debate generalizado. Mas, enquanto os mercados aprendem a lidar com uma política monetária menos acomodatícia, poderá existir uma importante consequência positiva, ignorada pela maior parte das pessoas.

A desigualdade de rendimentos e de riqueza nos Estados Unidos cresceu continuamente desde que a crise financeira global irrompeu em 2008, mas a normalização da política monetária poderá marcar o início do fim desta tendência. Na verdade, deverá servir para acelerar a sua reversão.

Considerem-se algumas estatísticas desanimadoras, que reflectem o actual estado de coisas. O rendimento familiar mediano real (ajustado pela inflação) nos EUA é quase o mesmo que em 1979. Um estudo recente do Pew Research Center notou que os Americanos ganharam menos 4% de rendimento em 2014 do que em 2000 e, pela primeira vez em mais de 40 anos, que os Americanos de classe média já não constituem a maioria da população.

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