1998 Annual Report - Sharing the Fruits of Growth
Over the past several years,
the United States has enjoyed the most favorable macroeconomic
conditions in more than three
decades—to some, the definition of “as good as it gets.”
Unemployment has been low, growth has been above expectations
of what the U.S. economy could sustain over such a long period,
and inflation has declined to a very low rate of growth. But
one feature of today’s economy stands in marked contrast
with the earlier years. In the 1960s, the incomes of all
those
involved in the economy were much more narrowly spread than
is the case today. Whether one examines the wages and salaries
of workersor the total incomes
of families and households, income inequality, that is, the
difference in income between those at the upper and lower
ends of the income distribution, has increased markedly. To
some, perhaps, the definition of an economic problem.
Complete Report 
(1.5MB)
Feature Essay:
Addressing the Challenge of Growing Earnings Inequality
by Cathy E. Minehan and Robert K. TriestFinancial Statements
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