Growth in lifetime earnings are determined in the first ten years of a worker’s life, said a new report from the Federal Reserve Bank of New York released in early February. The report focused on the growth in average income earned over a lifetime for workers in the U.S. with a median worker earning a growth of 38 percent in their lifetime. The authors of the report noted there is no other age starting point where there is such a large growth in earnings. In fact, “average earnings growth from ages 35 to 55 is zero.” Rebecca Chan, a junior, did not believe the study as she felt there was…
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Federal Reserve President Visits Queens College
William Dudley, president of the Federal Reserve Bank of New York, delivered a talk on macroeconomics on Nov. 18 at the Campbell Dome. Dudley, who also serves as vice chairman of the Federal Open Market Committee, began by noting the intentions behind his discussion. “The agenda for these visits is always very packed, as you can see, but that’s really the point: to meet with a diverse array of people in order to get a comprehensive picture of economic conditions and issues in the area,” Dudley said. “It’s good for us to get a fuller understanding of what’s going on — on the ground — on Main Street.” The Reserve’s…