Great Recession

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Three Graphs Show How Income Inequality Got Worse After The Crash

That the Great Recession profited the wealthy has been clear for some time. Similarly, it hurt those who were worse off. For example, those at the top of the economic structure here more than recovered what they had lost, largely because monetary and fiscal policy focused on bolstering markets. As New York University economics professor Edward Wolff has demonstrated,

Financial literacy skills have taken a nose dive since the Great Recession

It’s been a decade since the Great Recession’s upheaval, and while some measures of Americans’ economic well-being have recovered like the unemployment rate, their financial literacy isn’t one of them. Between 2009 and 2018, there was an 8% slip in the amount of people who could correctly answer most questions about interest rates, inflation, bond prices,

Extreme inequality in the US is making a major economic problem even worse

US inequality has become so extreme that hyperbolic headlines about how much wealth is in the hands of a few families in this country have ceased to shock. But economists are increasingly worried that inequality is not just hurting the poor but also dampening the overall economy's growth potential. Three researchers at the Federal Reserve Bank of