New Fed data shows that the richest 10% of Americans own 89% of US stocks

The Fed used their latest data to prove the saying that “the rich are getting richer”.According to CNBC, the U.S. Central Banking System recently Published a report Regarding stock market ownership. Considering that the richest 10% of Americans are reported to now own 89% of all U.S. stocks, these numbers are shocking.

Before the Covid-19 pandemic, the bottom 90% of Americans held only 12% of the U.S. stock market. This means that new data shows a decline in ownership. During the entire pandemic, the wealth of these 90% of Americans only increased by $1.2 trillion.

At the same time, less than 1% of the wealthiest citizens in the United States have profited more than $6.5 trillion from company stocks and mutual fund wealth. In the past year and a half, more than 70% of the wealth acquired by this group came from stocks.

CNBC reported that the stock market was “the main source of wealth creation in the United States during the pandemic.” Obviously, it has doubled since the decline in March 2020, and has risen by 40% since January 2020. However, given the huge difference in the value of ownership, CNBC stated that the stock market is also “a major driver of inequality.”

The recent wave of stocks and investment curiosity that has hit social media hasn’t had much impact on these numbers. Some people joined trading groups and participated in stock courses, while others used mature platforms to learn trading.

Robin Hood is A stock trading mobile application frequently used. According to reports, the app has 22 million users and 10 million new accounts have appeared in the past two years. Obviously, young first-time investors are behind many new images.

Not only do new investors buy at a higher rate, they also trade more frequently. The roadmap for new users seems to be to buy and quickly sell stocks to win large expenditures. However, not everyone wins this way.

According to data from the Federal Reserve, the value of stocks owned by the top 10% has risen by 43%. In contrast, the stock wealth of the bottom 90% increased by 33%.

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