The Rich Keep Getting Richer

October 9, 2019
Pile_of_gold_bars
Image by Steve Bidmead from Pixabay 

America’s richest residents haven’t been this wealthy since right before the Great Depression.

A recent report from the Federal Reserve Bank of New York about the gap between the haves and the have-nots shows that income inequality is largest in Houston, New York, and the San Francisco Bay area. Wage inequality is lowest in the Midwest and Great Lakes states such as Michigan, Ohio, and Pennsylvania.

In the coming weeks, Federal Reserve Bank of New York researchers will also release findings on the ways income inequality influences career advance, student loans debts, healthcare costs, and house values.

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