Since the top five per cent of households own almost two-thirds of the wealth, it stands to reason that most American households don’t own very much at all. But the figures that Yellen presented are still shocking. In 1989, the bottom half of the distribution owned just three per cent of all wealth. By 2013, that figure had fallen to one per cent. No, that’s not a typo: half the country owns one per cent of its wealth.
Rising Inequality: Janet Yellen Tells It Like It Is