19 Oct, 2014
U.S. Fed Chief warns of growing wealth gap, conflict with U.S. values | The Japan Times
WASHINGTON – Federal Reserve chief Janet Yellen warned Friday that the gap between the rich and poor in the United States is widening and is near the highest levels in 100 years. In a speech at a conference on inequality in Boston, Yellen did not mention monetary policy or the current turmoil in financial markets.
Instead, she focused on the widening wealth disparity and how that affects economic opportunity. “By some estimates, income and wealth inequality are near their highest levels in the past hundred years,” Yellen said, noting the gap has grown steadily over recent decades, despite a brief pause during the 2008 global financial crisis.
Read the rest: Yellen warns of growing wealth gap, conflict with U.S. values | The Japan Times.
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