Economics Newsletter: Fed Survey Shows Widened Inequality as Stock and Home Prices Rise
Last week, The Fed released its tri-annual Survey of Consumer Finances, a survey that offers a detailed look into American household finances. It shows that contrary to many reports, many households are struggling especially with inflation. This figure is the value of financial assets by income group. Despite stimulus checks and being stuck at home, low-income households did not save much money. They still have less than they did in 2007. Meanwhile, higher stock and home prices means inequality has widened.
Source: The Federal Reserve
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