Fed: US rich-poor gap at highest level since 1800s
The gap between the haves and have-nots is growing in the United States. That’s according to the Federal Reserve Chair who’s raising the alarm about the issue.
Janet Yellen said that income and wealth inequality are at their highest levels since the 19th century. She’s added that the rift has seen its most sustained rise over the last several decades and it has even widened during US economic recovery in recent years. According to the Fed’s Chair those at the very top have made significant income gains while the majority of Americans are living a stagnant life. Yellen suggested increased education and encouraging small businesses as two solutions to tackle the problem.
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