If there is anything that has bolstered the inclination of some of the young toward increased government intervention in the economy over the past few years it was the Quantitative Easing program from the Fed and the bank (and auto) bailouts (coordinated by the Treasury and the Fed). Many young people looked around and asked; “If the bankers got bailed out, why not us?” They came to believe that money was free and that cost was just a state of mind. Bernanke encouraged moral hazard not only in the financial sector but in the country at large with his scheme.
Bernanke’s quantitative easing (QE), also known as large-scale asset purchases, inflated asset prices and bailed out baby boomers at the political cost of pricing out millennials from many asset markets, including homes and the stock market. That has since driven wealth inequality across the country to levels never seen before.