Federal Reserve Chair Janet Yellen said economic mobility strengthens the economy and more research is needed on factors that influence it, including how families affect future prosperity and how public policy can help offer the most opportunity.
“Researchers and policy makers need a better understanding of how much mobility individuals may experience over the course of their lives,” Yellen said Thursday in remarks prepared for delivery to a Fed conference on economic mobility in Washington. “Research may be able to provide evidence on which public policies are most helpful in building an economy in which people are poised to get ahead.”
