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Sat Feb 9, 2019, 02:03 AM

Federal 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 nation’s 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 Trump’s 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.

6 replies, 280 views

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Reply Federal Reserve chair calls income inequality the biggest challenge in next 10 years (Original post)
applegrove Feb 9 OP
Hassin Bin Sober Feb 9 #1
applegrove Feb 9 #2
Hassin Bin Sober Feb 9 #3
applegrove Feb 9 #4
Hassin Bin Sober Feb 9 #5
Sherman A1 Feb 9 #6

Response to applegrove (Original post)

Sat Feb 9, 2019, 02:07 AM

1. More tax cuts for the rich, err I mean job creators, should fix that in a jiff.



Oh yeah, and more repealing of “job killing” regulations. Yeah that’s the ticket.

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Response to Hassin Bin Sober (Reply #1)

Sat Feb 9, 2019, 02:13 AM

2. I think we are seeing a sea change in the centre.

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Response to applegrove (Reply #2)

Sat Feb 9, 2019, 02:24 AM

3. Like my favorite economist Mark Blythe says:

“The Hamptons is not a defensible position. A very low lying beach. Eventually people will come for you”


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Response to Hassin Bin Sober (Reply #3)

Sat Feb 9, 2019, 02:25 AM

4. This is democracy starting to work again.

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Response to applegrove (Reply #4)

Sat Feb 9, 2019, 02:26 AM

5. We'll see.

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Response to applegrove (Original post)

Sat Feb 9, 2019, 05:45 AM

6. Perchance

the pendulum in the thinking is starting to move, ever so slightly?

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