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October 20, 2014

Yellen: Income inequality in U.S. near 100-year high

WASHINGTON (AP) — Federal Reserve Chair Janet Yellen sounded an alarm Friday about widening economic inequality in the United States, 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.


 
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