Disparities in US income distribution have garnered a lot of attention since the Great Recession, even though household wealth in the aggregate has surpassed its 2007 benchmark and continued its upward trajectory. Economists Lisa J. Dettling, Joanne W. Hsu and Elizabeth Llanes offer an informative look at why the top 10% of the population has seen its wealth recover, while the net worth of the bottom 90% has still not gotten back to precrisis levels. This accessible article will likely engage analysts, economists and those interested in inequality dynamics.
In this summary, you will learn
- How different income groups in the United States have seen their wealth recover since the Great Recession,
- What factors drive the unequal outcomes and
- Why consumer spending did not keep up with aggregate increases in wealth through 2016.
About the Authors
Lisa J. Dettling, Joanne W. Hsu and Elizabeth Llanes are economists with the Federal Reserve.