Mario Draghi hit back on behalf of monetary policymakers around the world, dismissing growing criticism that their aggressive actions to support the economy had widened the gap between rich and poor.
In a speech at a think-tank event in Berlin, the president of the European Central Bank defended its policy of cutting rates to record low levels and buying bonds in mass quantities in an attempt to lift the euro zone economic recovery. The drastic actions had not widened the gap between rich and poor, he said.
“We have every reason to believe that, with the impetus provided by our recent measures, monetary policy is working as expected: by boosting consumption and investment and creating jobs, which is always socially progressive,” the ECB president said.
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