Standard & Poor’s hits U.S. income inequality

From an August 2014 report by S&P:

• At extreme levels, income inequality can harm sustained economic growth over long periods. The U.S. is approaching that threshold.
• Standard & Poor’s sees extreme income inequality as a drag on long-run economic growth. We’ve reduced our 10-year U.S. growth forecast to a 2.5% rate. We expected 2.8% five years ago.

For the report, see here.

For press coverage, see here.