Summary
WASHINGTON -- The recession has cut many Americans' net worth by about 20 percent as the value of homes, stock portfolios and businesses have plummeted, the Federal Reserve said Thursday.
The Fed said the average net worth of American households plunged 22.7 percent since the recession began in December 2007 through October, when the report was prepared. The median net worth, or the midpoint between the wealthiest and poorest, fell 17.8 percent.See the full content of this document
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Net Worth Drops
The impact has disproportionat...
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