Thursday, February 23, 2006

Federal Reserve Releases New Wealth Data

The Federal Reserve Board released the long-awaited update of the triennial Survey of Consumer Finances at 9:30 this morning. It is available here.

The Survey of Consumer Finances is the only comprehensive look at the wealth of American households over time and by demographic characteristic. The last survey was fielded in 2001, before the 9/11 terrorist attacks and consequent economic disruptions. So what has happened to the wealth of Americans since then? Bottom line: Median household net worth inched up by only 1.5 percent between 2001 and 2004--from $91,700 to $93,100, after adjusting for inflation. This compares with a gain of 17 percent between 1995 and 1998 and 10 percent between 1998 and 2001.

Stay tuned for more analysis...

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