Randy Yale's Blog
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to ask what is wrong with our political system. Today we learned what most in the middle class knew--median income for American families has fallen to 1997 levels. The average folks suffer while a select few earn tens or even hundreds of millions of dollars each year. Inequality was bad before the financial crisis; now it is worse. The Federal Reserve has a dual mandate to fight inflation and stabilize employment. Yet as one of the Fed governors said, if inflation were as far above historic norms as unemployment is action would be swift and sure. Our leaders seem intent on protecting investors at all costs while ignoring the suffering of working families. It is time for action. It is time that our elected officials and their appointees commit to making our economy work for everyone not just their financials backers.
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