Does Amazon Have More Power Than the Federal Reserve?

The economy continues to grow, yet wages remain flat. Corporate concentration may be to blame.

 

The Kansas City Federal Reserve, one of the dozen reserve banks in the U.S., gathered on Friday in Jackson Hole, Wyoming, to discuss a signature puzzle of our times: How can the economy hum along, with unemployment falling for years, without wage growth? How have the gains from the economy been segregated from most Americans who do the work, instead flowing into the hands of a small group at the top? And what can the Fed, or anyone, do to reverse this?

 

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