SF Fed president says inequality could have cost US $2.6 trillion in 2019
Research paper argues opportunity and pay could increase labour output 40% by 2029
The US lost $2.6 trillion in potential GDP in 2019 due to gender and racial inequalities, a working paper co-authored by the San Francisco Federal Reserve president argues.
The economic gains from equity, published by the San Francisco Fed, calculates the US suffered cumulative losses of $70.8 trillion in GDP between 1990 and 2019.
One of the paper’s co-authors is San Francisco Fed president Mary Daly, writing with Shelby Buckman, Laura Choi and Lily Seitelman. The authors estimate what
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