FINANCIAL TIMES: …Speaking at a conference in Boston, the Fed chairwoman [Janet Yellen] said she was “greatly concerned” by rising income and wealth inequality, and asked whether it is compatible with American values…
“The extent of and continuing increase in inequality in the United States greatly concern me,” said Ms Yellen. “The past several decades have seen the most sustained rise in inequality since the 19th century after more than 40 years of narrowing inequality following the Great Depression.”
“I think it is appropriate to ask whether this trend is compatible with values rooted in our nation’s history, among them the high value Americans have traditionally placed on equality of opportunity.” … (more)
