Nearly all American families saw substantial gains in wealth from 2013 to 2016, according to new data released Wednesday from the Federal Reserve, a sign the recovery is picking up.
African-Americans and Hispanic families and people without college degrees had the fastest rise in wealth, a sign that the economic gains are finally spreading to all Americans. Economists say it’s an encouraging sign that the economic gains are finally spreading to all Americans. It’s a marked shift from the period between 2010 and 2013, when wealth feel for all racial and ethnic groups except whites.
“We’re glad the recovery is spreading to a lot of households,” Fed economists said Wednesday. The Fed does its Survey of Consumer Finances every three years, surveying over 6,200 households about their pay, debt, home ownership, stock holdings and other financial assets. It’s considered one of the deepest dives into the total net worth of American families.
Madison has long spent more than most on it’s government/taxpayer funded K-12 schools.