Yellen worried about economic inequality

Chelsea, Massachusetts

FEDERAL Reserve chair Janet Yellen said on Friday that the growth of economic inequality in the United States "greatly" concerns her, and suggested in a detailed speech on the politically charged issue that Americans should ask whether it was compatible with their values.

With global financial markets rebounding from days of frenzied selling, Ms Yellen did not comment on the volatility or on monetary policy. Instead she focused on the gulf between rich and poor that has only grown wider over the past several decades and, she said, through the US economic recovery.