Central banks battling inequality? West might be catching up with India

A paper asks whether central banks should care about inequality. In India, the RBI has been doing it for decades

It is a matter of constant wonder to me how far ahead of the curve India and the Reserve Bank of India (RBI) have been. I say this because I recently read a research paper asking if central banks should have the reduction of inequality as their mandate. Apparently, this is a hot-button topic in some Western policy circles. So the question the paper (by Roberto Chang) asks is, "Should central banks care about inequality?"

The paper suggests that central banks can perhaps be assigned "a mandate under which agents with higher nominal wealth are given a higher relative weight