As illustrated by the charts below, the existing ownership of US stock is such that corporate financial engineering disproportionately benefits rich white households, as do elevated asset prices. As such, the Federal Reserve's asset purchase program will tend to worsen wealth/racial inequality -- and especially so when not part of a much more comprehensive policy approach aimed at generating high, inclusive and sustainable growth. #markets #stocks #wealth #fed #federalreserve #inequality #injustice #equity #buybacks #dividends …see more