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October 2, 2017

Fed report shows U.S. income gap widening

WASHINGTON (AP) — Most American families grew richer between 2013 and 2016, but the wealthiest households pulled even further ahead, worsening the nation's massive disparities in wealth and income.

The median net worth of all American families rose 16 percent last year from 2013 to $97,300, according to a Federal Reserve survey released last week. The median is the point where half of families fall below and half above. That's the first gain for middle class households since the recession upended the economy nearly a decade ago.


 
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