The US Federal Reserve chair has expressed concern about increasing wealth inequality in the US, saying the richest five percent of Americans hold 63 percent of the country’s wealth. Janet Yellen made the remarks at the Federal Reserve Bank of Boston Economic Conference on Inequality of Economic Opportunity on Friday. According to her, those at the very top have made significant income gains while... 

Economists predict that the US Federal Reserve could lose half a trillion dollars in just three years thanks to policies enacted by the central bank under Chairman Ben Bernanke. A study conducted by investment analysts at New York City’s MSCI Inc. suggests that Mr. Bernanke’s efforts to keep the floundering economy in tact on the heels of a recession have proven to be futile and will continue... 

A grim Ministry of Finance report circulating in the Kremlin today states that the shocking record rise this past week of the United States outstanding debt to $15.692 trillion (just $600 billion short of their debt ceiling) has pushed the world’s most powerful economy into a situation of its outstanding obligations now being 101.5% of its entire gross domestic product (GDP), which when coupled... 

Former US Federal Reserve chairman Alan Greenspan. The euro is breaking down and the US economy is suffering because of Europe’s debt crisis, according to former US Federal Reserve chairman Alan Greenspan. “The euro is breaking down and the reason we’re so sluggish is the level of uncertainty,” Greenspan said at the Innovation Nation Forum in Washington DC on Tuesday, AFP reported. The...