During a period of lavish U.S. Federal Reserve quantitative easing, only the wealthy experienced economic benefit, a new study from the Fed showed.
Fed stimulus: Wealthiest population US income rise to 30.5%
The Fed study from 2010 to 2013, first reported by Bloomberg, shows that the wealthiest 3 percent of the population saw their share of total US income rise to 30.5 percent, up from this group taking 27.7 percent of all income in 2010.
While the wealthy were taking a larger percentage of total income, the median income for all families dropped 5 percent from 2010 to 2013. Such findings are “consistent with increasing income concentration during this period,” the report revealed.
Setup a free account to get access to this article (no credit card required).
Login required to continue reading.
