by Bruce Thornton // FrontPage Magazine
At a conference last week, Federal Reserve Chairman Janet Yellen recycled a shopworn Democrat talking point about the supposed crisis of income inequality and stalled economic mobility. “The extent and continuing increase in inequality in the United States greatly concerns me,” Yellen said, going on to wonder “whether this trend is compatible with values rooted in our nation’s history,” especially “equality of opportunity.”
Like the mythic “war on women,” this progressive sound bite is misleading and duplicitous, based on statistical sleight of hand. Worse yet, it is a pretext for more and more government expansion and intrusion into the economy, and for more and more redistribution of income through entitlement programs. It makes one wonder what one of the most powerful government officials impacting the economy, supposedly a politically neutral technocrat, is doing recycling Democratic campaign slogans.