According to a recent Pew Research Center survey, the gap between rich and poor now ranks as a major concern in the minds of citizens around the world. In advanced economies still feeling the effects of the Great Recession, people worry that children will grow up to be worse off financially than their parents were.
In the United States, roughly 80 percent of Americans across the ideological spectrum see inequality as a moderately big or very big problem. 1 Economic inequality has long been of interest within the Federal Reserve System.