Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
The top 1% of Americans now control one-third of all U.S. net worth as inflation erodes purchasing power and the Federal Reserve's first rate hike since 2023 pushes borrowing costs higher.
The top 1% of U.S. households hold $60.3 trillion, a record 32.5% share of net worth, according to The Kobeissi Letter, citing Federal Reserve data.
Meanwhile, the bottom 50% hold $4.3 trillion, with the richest holding 14 times as much.
Don't Miss:
#federal #americans #reserve
The top 1% of Americans now control one-third of all U.S. net worth as inflation erodes purchasing power and the Federal Reserve's first rate hike since 2023 pushes borrowing costs higher.
The top 1% of U.S. households hold $60.3 trillion, a record 32.5% share of net worth, according to The Kobeissi Letter, citing Federal Reserve data.
Meanwhile, the bottom 50% hold $4.3 trillion, with the richest holding 14 times as much.
Don't Miss:
#federal #americans #reserve
6 days ago
