By Jillian Berman (original source Market Watch)
“The Pew Research Center released a major report Monday on America’s shrinking middle class. MarketWatch spoke to several people about what it means to be middle class in the U.S., and the pressures facing this group. Sheila Bair, the president of Washington College and former chair of the Federal Deposit Insurance Corporation, reveals how stagnant wage growth has affected today’s middle class. This conversation has been edited and condensed.
MarketWatch: What do you define as middle class?
Sheila Bair: I view middle class as people who predominantly make their income from working, they don’t get a lot of investment income. I know there are all sorts of different definitions. I do think you work for a living.”
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