Powell’s speech: Income inequality and sluggish productivity are biggest challenges of next decade
Comments are crossing the wires from the Fed Chair Powell, as he now responds to the Q&A session following his town hall address.
Key Quotes (via CNBC):
US economy is in a good place.
Income inequality and sluggish productivity are the biggest challenges of the next decade.
Wages at the middle and lower levels have "grown much more slowly" than those at the higher end.
"We want prosperity to be widely shared. We need policies to make that happen."
On the lagging mobility in the US, he noted, "That's not our self-image as a country, nor is it where we want to be."
"There are policies that we need to do that everyone should be able to agree on that will change mobility, improve people's chances and enable people to better take part in the workforce of the future."