The Federal Reserve benefits the saying, “The rich get richer,” with the latest data. According to CNBC, the recent US central banking system Release report About ownership of the stock market. Given that the wealthiest 10% of Americans reportedly currently own 89% of all US stocks, the numbers call for economic inequality.
Prior to the Covid-19 pandemic, the bottom 90% of Americans held only 12% of the US stock market. This means that the new data indicates a loss of ownership. That 90 percent of Americans only added $ 1.2 trillion to their wealth through a pandemic.
Meanwhile, within 1% of America’s wealthiest citizens have gained over $ 6.5 trillion in corporate stocks and investment trust wealth. Over 70% of the wealth gained by this group during the last half of last year came from equities.
CNBC reports that the stock market was “the main source of wealth creation in the United States during a pandemic.” Apparently, it has doubled since the fall in March 2020 and surged 40% from January 2020. However, given the tremendous difference in ownership value, CNBC states that the stock market is also a “major factor in inequality.”
The wave of stock and investment curiosity that recently hit social media hasn’t been very effective in bending these numbers. Some have joined a trading group and participated in a stock class, while others have learned to trade using an established platform.
Robin Hood One stock trading mobile app Frequently used. The app has reportedly boasted 22 million users over the last two years, with 10 million new accounts emerging. Apparently, young, first-time investors are behind many of the new profiles.
New investors not only buy at higher rates, but trade more often. The roadmap between new users seems to be buying and selling stocks to win large payments. But not everyone wins this big.
According to the Federal Reserve, the value of shares held by the top 10% has increased by 43%. By comparison, the bottom 90% had a 33% increase in equity assets.
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New Federal Reserve data show that the wealthiest 10% of Americans own 89% of U.S. stocks
Source link New Federal Reserve data show that the wealthiest 10% of Americans own 89% of U.S. stocks