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October 11, 2019

Federal Reserve Chair Says Automation May Worsen Inequality in Future

By Emma Coalition

At a recent Federal Reserve event in Kansas City, Chair Jerome Powell suggested that workplace automation could exacerbate inequality in the coming decades. Powell pointed to the challenging “distributional consequences” of some work being performed much more efficiently and cheaply through automation. “The concern that you raise has always been the case, going back years — and there have been periods when technology disrupts workers, and there’s a long period during which they do not benefit.”

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Source: Bloomberg Government

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