The Federal Reserve has announced that it is holding off on an interest rate hike; the last time it raised rates was in 2006. The reason for the lack of action: The Federal Reserve believes the economy remains fragile and, since inflation remains low, it doesn’t want to do anything that might bring the expansion to a halt.
In reality our economic problems go much deeper than slow growth and economic fragility. Bluntly said, most workers are losing ground regardless of whether the economy is in recession or expansion.
The following chart, from a New York Times article, shows the movement in real, inflation adjusted, median household income from 1999 to 2014.
[For more of this story, written by Martin Hart-Landsberg, go to http://www.psmag.com/business-...stagnate-and-decline]
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