This was a ‘HUGE MISTAKE' by the Fed, economist warns

• Quantitative easing (QE) by the Fed is labeled a 'huge mistake' for tripling the money supply and causing inflation.
• Fed's monetary policy has created 'bad' inequality, benefiting asset owners while those without assets face higher costs.
• There is a need to shrink the Fed's balance sheet and move towards 'scarce reserves' to stabilize inflation and prevent future economic problems.

First Trust Advisors chief economist Brian Wesbury criticizes the Federal Reserve's quantitative easing (QE) for tripling the money supply, causing inflation, and exacerbating wealth inequality by benefiting asset owners. He distinguishes between 'good' inequality from innovation and 'bad' inequality from monetary policy, advocating for shrinking the Fed's balance sheet to stabilize the economy and prevent future inflation.