Why the average American family’s net worth increased 37% during the pandemic – By Scott Horsley (NPR) / Oct 18, 2023
Americans’ family finances overall improved in recent years, despite the economic upheaval caused by the pandemic, according to a new survey from the Federal Reserve.
The average family’s net worth jumped 37% between 2019 and 2022. That’s the largest three-year increase since the Fed began conducting the survey more than three decades ago.
The survey also found the wealth gap between rich and poor narrowed somewhat during that period. Temporary government relief measures tied to the pandemic may have contributed to the widespread gains.
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