The Boston Fed discussed new approaches to income inequality at a conference earlier this week. At the event, Federal Reserve Chair Janet Yellen expressed concern about the rapidly increasing wealth of the richest Americans at a time when living standards for most Americans remained stagnant. Eric Rosengren, the Boston Fed president, discussed its Working Cities Challenge program, which challenged officials, nonprofits and business leaders in Massachusetts cities to collaborate on three-year plans to help transform their neighborhoods. The conference focused on the systemic causes of inequality, tracing the effects of educational disparities, declining civic collaboration and racial bias.