Which Groups Recovered Their Wealth after the Great Recession?
In this video taken from a recent Dialogue with the Fed event, Lowell Ricketts, the lead analyst for the St. Louis Fed’s Center for Household Financial Stability, discussed wealth loss and recovery around the Great Recession.
He noted that all age groups (from those born in the 1930s to those born in the 1980s) had greater-than-predicted median wealth just prior to the Great Recession. In 2010, each of these groups then saw their wealth advantage decline due to the recession, and the wealth of four of the six groups fell below predicted levels. Most groups saw their wealth improve in 2016, but those born in the 1980s actually saw their wealth fall even further behind what would be predicted.
- Dialogue with the Fed: A Lost Generation? Young Families after the Great Recession
- On the Economy: When the Stock Market Rises, Who Benefits?
- On the Economy: Income and Wealth Gaps: College Grads vs. Nongrads