Today at the Trans-Atlantic Agenda for Shared Prosperity conference held at the AFL-CIO, Janet Yellen, vice chair of the Board of Governors of the Federal Reserve, talked about the reasons why the recent economic downturn has been painful particularly for America's workers and what the Federal Reserve's role is in reaching maximum employment.The problem with the economy is the lack of demand and current fiscal policy is not helping. Yellen said the Federal Reserve is committed to action that will create jobs and produce economic growth.
This is the first of a four-part series describing what went wrong with America’s economy and how to fix it. See Part 2 tomorrow—and please leave a comment to tell us what you think. (Click the chart to enlarge.)
The Great Recession officially ended more than three years ago, but working families know there’s still something wrong with the U.S. economy. If we want to fix our economy, we first have to understand what’s wrong with it. (Click chart on the left to enlarge).
Starting today, in a series of four posts and infographics, we’ll spell out what we see as the short-term and long-term causes of our economic problems and we’ll point to specific solutions.