Free Trade, Education and Income Stagnation in US

Federal Reserve Chairman Ben Bernanke contended that education levels largely determine income inequality. But he was angrily interrupted by Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, who declared, “Mr. Bernanke, that’s simply not true.”

Frank said that the 29 percent of Americans who have bachelor’s and even master’s degrees haven’t seen real income growth, on average, over the past five years.