The economic recovery from the Great Recession has been steady but unspectacular. Yet despite growth at well below historical GDP norms, stakeholders across the US demographic spectrum all experienced wealth gains from 2013–2016. Federal Reserve professionals assess recent data to determine the scale and scope of prosperity relative to race and ethnicity, and they find that, despite upward momentum for all groups, long-term absolute levels of net worth remain largely unchanged. getAbstract recommends this data-based, authoritative analysis to anyone interested in the socioeconomics of wealth in the United States.
About the Authors
Lisa J. Dettling et al. are economists with the Board of Governors of the Federal Reserve System.