Yellen: Greatly concerned by widening inequality


Business

The Associated Press

WASHINGTON — Federal Reserve Chair Janet Yellen on Friday sounded an alarm about widening economic inequality in the U.S., suggesting that America’s longstanding identity as a land of opportunity was at stake.The growing gap between the rich and everyone narrowed slightly during the Great Recession but has since accelerated, Yellen said in a speech at a Boston conference on economic opportunity. Robust stock market returns during the recovery have helped the wealthy outpace gains in wages, employment and home prices for middle-class America."The extent and continuing increase in inequality in the United States greatly concerns […]