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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsFederal Reserve chair calls income inequality the biggest challenge in next 10 years
Federal Reserve chair calls income inequality the biggest challenge in next 10 years
https://www.washingtonpost.com/business/2019/02/07/federal-reserve-chair-calls-income-inequality-americas-biggest-challenge-next-years/?utm_source=reddit.com&utm_term=.cecf0e102b9b
By Heather Long
"SNIP....
Federal Reserve Chairman Jerome H. Powell said that the U.S. economy is in a good place but warned that income inequality is the nations biggest economic challenge in the coming decade.
We want prosperity to be widely shared, Powell said Wednesday evening. We need policies to make that happen.
The Fed leader was speaking at a town hall event with teachers when one asked him about the top head winds in the next 10 years. Powell, who was appointed by President Trump but has been a frequent target of Trumps ire, said he was concerned that income growth for middle- and working-class Americans has really decreased, while growth at the top has been very strong.
Powell pointed out that the United States used to be a global leader in mobility the ability of people born into poverty to move up to the middle class or even the wealthiest echelons of society. But that is no longer true.
....SNIP"
Thanks to all those who made the issue mainstream. Obama, Bernie, AOC, and all. The pendulum is swinging back.
Hassin Bin Sober
(26,337 posts)Oh yeah, and more repealing of job killing regulations. Yeah thats the ticket.
applegrove
(118,778 posts)Hassin Bin Sober
(26,337 posts)The Hamptons is not a defensible position. A very low lying beach. Eventually people will come for you
applegrove
(118,778 posts)Hassin Bin Sober
(26,337 posts)Sherman A1
(38,958 posts)the pendulum in the thinking is starting to move, ever so slightly?