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Yet the average household seems weaker now than 16 years ago. Perhaps policy guided by this metric could use rethinking.


Your observation is about distributional characteristics of the economy which, in terms of policy, are addressed by fiscal policy and not monetary policy; the former remains in the hands of Congress and the President without delegation to the Federal Reserve, which has been given only a narrow set of tools adapted to and a mission related to broad aggregate performance.


The median household income is higher today in real terms than it was in 2008.




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