US Wealth Distribution: Bottom 50% Build Wealth While Middle Class, Wealthy Slip – Bloomberg

In an eight-minute speech last week that sent stock markets tumbling, Federal Reserve Chair Jerome Powell echoed what he’s said before about the importance of containing surging consumer prices: “The burdens of high inflation fall heaviest on those who are least able to bear them.”

Yet data filtered through the Realtime Inequality tracker provide a nuanced picture of how the bottom 50% of US households are faring in today’s economy. The group, generally those with a net worth of $166,000 or less before the pandemic, are in the strongest relative financial position in a generation.

Source: https://www.bloomberg.com/news/articles/2022-08-29/america-s-bottom-50-are-building-wealth-even-as-inflation-bites