Central Banking

New York Fed’s Dudley calls for action on rising wage inequality

William Dudley proposes changes in school financing to tackle inequality of opportunity


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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Interview: Kenneth Rogoff

In this wide-ranging interview, the former chief economist of the IMF discusses the likely fallout from the unsustainable US deficits, the dollar's hegemony, the Fund's failings, the weak spots in the global economy and the future of central banks.

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