By Karen Petrou
- New data show that the COVID pandemic is creating even more income inequality than the great financial crisis, which is saying something.
- Wealth inequality is already climbing to unprecedented heights due to Fed intervention and resulting market gains.
- Absent fiscal policy that reduces income inequality and a change in financial policy benefiting wealth equality, post-pandemic inequality could be still more toxic, exacerbating longstanding challenges to macroeconomic growth and increasing financial-crisis risk.