How thoroughly did the Great Recession savage middle-class America’s finances? Economist Edward Wolff will tell you. The New York University professor has updated his long-running analysis of wealth in America to include data from the Federal Reserve’s 2013 Survey of Consumer Finances. The big takeaway: Thanks to the recession, the median U.S. household is now worth less than in 1969. (Back in July I guessed this might be the case based on a slightly different data set.)

No ratings yet.

Leave a Reply