Sanders: Fed Must Act on Income and Wealth Inequality

SAN FRANCISCO, Oct. 17 – U.S. Sen. Bernie Sanders (I-Vt.) issued the following statement today after Federal Reserve Chair Janet Yellen delivered a speech on income and wealth inequality in the United States:

“Janet Yellen is right.  Income inequality is the worst it has been since the 1920s.  Now that we have a Fed Chair who recognizes the problem, the Fed must act as boldly to rescue the disappearing middle class as it did when it bailed out too-big-to-fail banks.  The Fed has got to demand that big banks significantly increase affordable loans to small businesses to create jobs, instead of parking its money at the Fed and making risky bets on Wall Street.”