The stock market and the U.S. economy have experienced a spectacular recovery from late March 2020, when the coronavirus crisis had our lives in shutdown mode. This recovery has also highlighted the growing disparity, however, between the “haves” and the “don’t have as much.”
The term “wealth gap” refers to the unequal distribution of assets across households in America, and we are currently experiencing the largest gap in 70+ years. For example, the bottom 50 percent of U.S. households accounts for just two percent of our nation’s wealth. Though this episode is not about making everybody equal, understanding the wealth gap – and the factors driving its growth – is important for all of us.