Janet Yellen says fight against inequality starts with full employment

Most of the discontent with capitalism in the US stems from inequality and the stagnation of wages, which dates back to the 1980s and can be traced broadly to automation and globalization, Yellen said

Keeping the US economy near full employment is lifting pay for unskilled workers and helping ease inequality in the country, former Federal Reserve Chair Janet Yellen said.

It’s important to see the benefits that an economy operating at full employment confers to low-wage workers who are typically the most vulnerable, Yellen said at the Bloomberg New Economy Forum in Singapore on Tuesday. She cited examples such as unemployment for black Americans declining since peaking in 2010 and companies investing in training workers as hiring becomes more difficult.

Most of the discontent with capitalism in the US stems from inequality and