World Economic Forum 2014: Overheard in Davos

By Bloomberg Briefs - 2014-01-22T18:19:25Z

Photograph by Joshua Roberts/Bloomberg

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Tim Adams

Failure to mitigate the income gap risks undermining economic demand and brewing more populist pressures on governments to protect voters, said Tim Adams, president of the Institute of International Finance, which represents more than 400 financial firms including Goldman Sachs, Barclays and Deutsche Bank. “The more wages become stagnant, the more pressure there is to find solutions to growth,” said Adams, a former U.S. Treasury official. “If workers don’t have sufficient income they cannot be consumers.”