New York Fed’s Dudley calls for action on rising wage inequality
Technological change and globalisation reward high-skilled workers, while reducing middle- and low-income jobs. This is increasing wage inequality and hampering recovery in the US, William Dudley, president of the Federal Reserve Bank of New York, said in a speech on August 10.
Dudley proposes lessening the role of local property taxes in school financing to reduce inequality of opportunity and increase school quality across locations. In the US, affluent neighbourhoods enjoy better schools
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