Wealth went up, but it went mostly to the rich
Data released by the Federal Reserve on Monday, June 21, shows that the wealthiest 1 percent of Americans have 16 percent more wealth than the bottom 50 percent combined.
A previous report from the Fed showed that, overall, wealth across all U.S. households increased during the first quarter. The net worth of households and nonprofits rose to $136.9 trillion during this period, an increase of 3.8 percent from 2020.
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