As the stock market prepares to close later today, Yellen will deliver a speech on the new normal for monetary policy at a conference hosted by the San Francisco Federal Reserve, of which she was previously the President. The question on many lips today is whether she will be more hawkish than she was at the press conference following the FOMC meeting.
The US labor movement was once the core institution fighting for average workers. Over the last half century, its ranks decimated. The share of the private sector workforce that is organized has fallen from 35% to approximately 6.5% today.