Fed officials sound warnings over economic mobility
Vice-chair says it remains core of American Dream, but Philly Fed chief says it is out of reach for many
Senior officials from the Federal Reserve have underlined the importance of economic mobility if the central bank is to meet its goals of stabilising prices and maximising employment.
At a summit on economic mobility hosted by the Federal Reserve Bank of Philadelphia on April 22, Fed vice-chair Philip Jefferson said achieving both goals could help boost economic mobility.
“Achieving the dual mandate sets the conditions for all individuals to succeed, including those moving up the economic ladder,”
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