Fed Officials Warn Rising Inequality Is Threat to U.S. Economic Vigor Long Term

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Fed Officials Warn Rising Inequality Is Threat to U.S. Economic Vigor Long TermFed Governor Lael Brainard told a conference audience in Washington on Friday that the long-term vigor of the U.S. economy may be at risk as middle class households are squeezed by slow growth in income and wealth and rising costs for housing, health care and education. Some eight in 10 are at least somewhat confident that they could obtain an additional credit card if they applied for it.The share of income spent on rent by middle class renters rose to 25 percent in 2018 from 18 percent in 2007.


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