I think almost all economists think that the minimum wage has two main effects: one is to give higher wages to those who continue to have jobs and were earning the minimum wage; and then, second, that there would be some amount of negative impact on employment as a consequence.
Yellen discusses the dual effects of raising the minimum wage on employment and wages.
Share
More from Janet Yellen
The Fed does not have a 'good handle on how the tariffs are going to affect either spending in the labor market or inflation.'
We certainly have proposed extending the Child Tax Credit, which was immensely helpful, and we are supportive of the legislation that has gone through the House.
He will oppose any tax increases on families earning under $400,000 at the same time that he will oppose keeping in place benefits that went to the wealthy.
Other voices in this conversation
