Sometimes seems like the rich get richer and the poor get poorer.
There’s data showing it’s happened during the COVID-19 pandemic.
According to a progressive think tank, the Institute for Policy Studies, U.S. billionaires have gained $565 billion additional dollars since March 18.
At the same time, surging unemployment is expected to reach levels not seen since the Great Depression.
Analysts attribute this widening wealth gap to the stock market.
It’s almost fully recovered from the large dip spurred by the pandemic.
That’s because Federal Reserve policy is helping inflate its value, making that value less reflective of actual economic conditions.
Experts say the top 10% of households own more than 84% of stocks, so a rising market helps people who are already among the wealthiest.
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