Rep. Barney Frank said that wage inequality among U.S. workers is his No. 1 priority as he prepares to take over chairmanship of the House Financial Services Committee this week.In a speech at the National Press Club, Frank, D-Mass., said that he will hold hearings about wages over the next two years in an attempt to address the gap between economic growth and workers' wages.

“We have a system which is producing, by a combination of natural forces and government policy, more inequality than is necessary for efficiency or than is socially healthy, because it produces gridlock,” Frank said. He later added that getting the financial and business communities, including the Federal Reserve, to understand the importance of breaking such inequality is the single most important issue.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access