Janet Yellen: Widening Wealth Gap
on Monday, October 20, 2014Janet Yellen Money Quotation saying wealth distribution has become top heavy toward the rich to the point of looking like a third-world economy. Janet Yellen said
“The distribution of income and wealth in the United States has been widening more or less steadily for several decades, to a greater extent than in most advanced countries” — Janet Yellen
In this quote, Janet Yellen is observing that income and wealth inequality have been increasing steadily in the United States for decades. She notes this widening disparity has been occurring to a larger degree than in most other advanced economies.
By referring to the “distribution” of income and wealth, she means the gap between those with more and less of these financial resources. Yellen appears to be highlighting that the divide between rich and poor has been growing continuously and more sharply in the U.S. compared to peer nations.
The quote suggests rising inequality has been an ongoing trend according to economic data. Overall, she is drawing attention to America’s widening chasm in incomes and household net worth over a prolonged period.
[…] “The distribution of income and wealth in the United States has been widening more or less steadily for several decades, to a greater extent than in most advanced countries” — Janet Yellen […]