The young (wealthy) Americans
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 8 February 2024
⏱️ 8 minutes
🧾️ Download transcript
Summary
Since the pandemic, younger adults have become wealthier than older generations. That’s according to a new analysis from the Federal Reserve Bank of New York. Guest host Amy Scott joins us to discuss how that happened and what the stock market has to do with it. Plus, why there might be trouble ahead for regional banks. And, a look inside the world of competitive speed puzzling.
Here’s everything we talked about today:
-
- “Wealth Inequality by Age in the Post-Pandemic Era” from Liberty Street Economics
-
- “Why One Shaky Bank Is Stirring Fears of a Wider Financial Mess from The New York Times
-
- “Polar bear sleeping on iceberg wins Wildlife Photographer of the Year award” from The Washington Post
-
- “For top jigsaw puzzlers, 500 pieces in an hour is no problem” from The Washington Post
Got a question for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Look on the theory that you got things to do. I am ready to go whenever you want to go. |
| 0:04.4 | Yeah, I'm good. |
| 0:05.6 | Okay. All right. |
| 0:11.0 | Hey everybody I'm Kyle Rizdall. Welcome back to Make Me Smart, where we make today make sense. |
| 0:19.6 | And I'm Amy Scott filling in today for Kimberly Adams. Thanks for joining us this Wednesday. |
| 0:24.1 | It is February 7th. |
| 0:26.1 | It is indeed, February the 7th. |
| 0:28.0 | And it being February the 7th, here's what we're going to do. |
| 0:30.1 | We're going to do some news, then we're going to do some smiles, and then we're going to get on about our Mary Waye. |
| 0:35.0 | Amy Scott, you get to go first. What do you got? |
| 0:37.0 | Okay, well I saw this this morning, I guess in Bloomberg, but it came from a blog post from the New York Fed which looked |
| 0:46.2 | at the growth in wealth since the pandemic and a pretty surprising headline |
| 0:50.9 | younger adults far outpaced other groups in wealth growth since the pandemic. |
| 0:57.3 | And I just found this fascinating. |
| 0:59.1 | The total wealth among people under 40, adults under 40, I should say, |
| 1:04.0 | rows 80% since 2019, |
| 1:08.0 | compared to just 10% for those of us |
| 1:11.0 | between 40 and 54 and 30 percent for folks over 55. |
| 1:15.0 | And economists say this is partly because of the stock market, gains in the stock market, |
| 1:21.0 | financial assets contributed most of the difference in growth and I was |
| 1:26.0 | surprised that young people are that invested in the stock market but apparently because this |
| 1:30.5 | group has tends to have less income they got more COVID-era relief so they |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Marketplace, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Marketplace and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.