Fed warns more cash is needed as US figures reveal widening inequality

Posted by on May 13, 2020 11:35 am
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Categories: Global Stories

  • Jerome Powell: pace of downturn ‘without modern precedent’
  • Lowest-paid Americans hit hardest by coronavirus pandemic

More evidence of how the coronavirus pandemic is widening income inequality has emerged after the Federal Reserve announced 40% of households earning less than $40,000 included someone who has lost a job since February.

Related: Coronavirus US live: gap grows between White House and experts over safety of reopening

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