Yesterday, Thomas Piketty and his colleagues released a sweeping report surveying the extent of global and national economic inequality. Charles Dickens would be inspired – Ebenezer Scrooge’s third ghost portending a landscape of poverty, grief, and desolation has nothing on the French economist. Like Jacob Marley’s specter, these economists show a grim future for a critical reason: it does not have to happen. Although there are many causes of the strong currents driving America’s wealthiest households far from the many more struggling beneath them, monetary and financial policy play a significant, widely-overlooked or even rejected role. The Federal Reserve must, like Scrooge, look ahead, take heed, and change.