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WASHINGTON Karl Joseph Raiders Jersey , Sept. 26 (Xinhua) -- U.S. Federal Reserve Governor Lael Brainard on Tuesday warned that widening income and wealth inequality in the United States could dampen consumer spending.


"Persistently high levels of income and wealth inequality may also have implications for the robustness of consumer spending, which accounts for roughly two-thirds of aggregate spending in the United States," said Brainard in a research conference in Washington D.C..


She quoted research results as saying that widening income and wealth inequality may damp consumer spending in the aggregate, as the wealthiest households are likely to save a much larger proportion of any additional income they earn compared to households in lower income groups that are likely to spend a higher proportion on goods and services.


The United States is now facing widening income and wealth gap, as a latest Fed survey report shows David Sharpe Raiders Jersey , said the Fed official.


According to the Fed report which is due to be released Wednesday, the share of income held by the top one percent of households reached 24 percent in 2015, up from 17 percent in 1988; and the share of wealth held by the top one percent rose to 39 percent in 2016, up from 30 percent in 1989.


The Fed official also warned that disparities in employment could reduce the long-run potential of the economy.


In United States, the national unemployment rate dropped to historic low of 4.4 percent in August Eddie Vanderdoes Raiders Jersey , while the unemployment rate for Hispanics was 5.2 percent and 7.7 percent for African Americans.


"While the policy tools available to the Federal Reserve are not well suited to addressing the barriers that contribute to persistent disparities in labor market outcomes, understanding these barriers and efforts to address them is vital in assessing maximum employment as well as potential growth," said Brainard.


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ADELAIDE, Australia, Sept. 27 (Xinhua) -- Bringing together Australia's space industry should be the priority of the nation's newly-announced space agency, leading scientists have said.


The Australian Academy of Science (AAS) on Wednesday launched its Vision for Space Science and Technology in Australia at the International Astronautical Congress (IAC) in Adelaide.


The coalition of the country's leading scientists identified a strategic coordination framework as the highest priority for the Australian space agency, the establishment of which was announced at the IAC on Monday.


"We certainly envisage a future -- by 2027 or sooner -- in which Australia will have a vibrant space sector and space industry Gareon Conley Raiders Jersey , underpinned by a national space agency," Fred Menk, Chair of the AAS National Committee for Space and Radio Science, said in a media release on Wednesday.


The mission statement included examples of international projects which Australia could be involved in if the framework existed, notable the China-based International Space Weather Meridian Circle Program which is proposing to build weather measurement instruments along meridian lines.


"The lack of a national coordination framework for space weather activities impacts on Australia's engagement with and capacity to respond to strategic programs such as this one P.J. Hall Raiders Jersey ," Menk said.


"With the right policy support, Australia can mobilize the sector to create a significant space industry, based on innovative and niche products, in a relatively short time."


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