Wozniak: Not Surprised by Disparities in Fed Economic Well-Being Survey

The video discusses a Fed survey on financial well-being, highlighting disparities among different income and racial groups. It examines economic monitoring for diverse groups, trends in income inequality, and wage growth across earnings levels. The implications of wage growth on income inequality are explored, along with the relationship between monetary policy and inequality.

What does the Fed survey reveal about financial disparities among different ethnic groups?

• There is a substantial disparity between white, black, and Hispanic groups.

• White individuals feel more financially secure than others.

• All ethnic groups feel equally financially insecure.

• There is no disparity among ethnic groups.

What has been the trend in income inequality over the past decade?

• It has been decreasing.

• It has remained stable.

• It has been increasing.

• It has been fluctuating without a clear trend.

How has wage growth differed for lower-income earners in recent years?

• Wage growth has been negligible for all earners.

• Lower-income earners have seen weaker wage growth.

• Wage growth has been similar across all income levels.

• Lower-income earners have experienced stronger wage growth.

What was a characteristic of the labor market in the late 1990s?

• Wage gains were highest for those with less formal education.

• Wage gains were evenly distributed across all education levels.

• Wage gains were highest for those with the highest levels of formal schooling.

• There were no significant wage gains during this period.

What is one implication of wage growth for lower earners on average wage growth?

• It results in a faster average wage growth.

• It slows down the average wage growth.

• It has no impact on average wage growth.

• It causes average wage growth to fluctuate unpredictably.

How might looser monetary policy affect income inequality, according to some suggestions?

• It could help correct some of the inequality.

• It could worsen income inequality.

• It would only benefit high-income earners.

• It might have no effect on income inequality.

What is the Federal Reserve's approach to understanding economic disparities?

• Reviewing evidence across all sectors of the economy.

• Ignoring income distribution differences.

• Concentrating only on high-income earners.

• Focusing solely on unemployment rates.