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Truth is in favor of you and me; for the truth of our enemies whom we have been serving here in the U.S.A. for over 400 years (whom we did not know to be our enemies by nature) is the truth that the Black Man must have knowledge of to be able to keep from falling into the deceiving traps that are being laid by our enemies to catch us in their way which is opposed to the way of righteous of whom we are members. ~ The Honorable Elijah Muhammad

Monday, June 10, 2013

Federal Reserve: rising inequality jeopardizes economic recovery

A top ranking member of the United States Federal Reserve cautioned economists that growing inequality within the U.S. was worsening the odds of a quick return to the conditions of the pre-recession days.

Fed Board of Governors member Sarah Bloom Raskin was in Washington, D.C., on May 16, and during an address before the Society of Government Economists and the National Economists Club she said the widening gap between the rich and poor is just one of the issues being investigated as attempts are made to rebound from the financial crisis of 2009.

“In my view, the large and increasing amount of inequality in income and wealth, which has been an ongoing development for decades, may have exacerbated the crisis and I think more research is required to determine whether it may also pose a significant headwind to the recovery from the crisis for years to come,” Ms. Raskin told the crowd. “So, while I am hopeful that pressures will ease further as home prices continue to rebound, I also believe that some of the restraints on the recovery may be quite long-lasting.”  Read more... 

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