# Professor Joseph Foudy discusses wage stagnation and decreased consumer spending in the US

1 Faculty News July 29, 2016 ![CCTV logo](/sites/default/files/styles/246w/public/assets/images/con_042799.jpg?itok=_MQ3VVcM)>

Excerpt from [CCTV](http://www.cctv-america.com/2016/07/29/study-finds-most-americans-have-less-to-spend-on-themselves) -- "'There is a deeper long-term trend we see in a number of countries but particularly in the U.S., and that’s rising inequality,' [Joe Foudy](http://www.stern.nyu.edu/faculty/bio/joseph-foudy), professor at the New York University Stern School of Business, said. 'The U.S. economy has grown significantly since 2008, but median wages are stagnating, while a lot of other people’s costs are going up.'"

[Read more](http://www.cctv-america.com/2016/07/29/study-finds-most-americans-have-less-to-spend-on-themselves)