Question of the Day

Who is the only president of the past 30 years under which wealth inequality decreased?

Correct Answer

Tell Me More

Based on data from the Federal Reserve's Survey of Consumer Finances, which tracks the wealth of U.S. households in 3-year increments, Rice University's Baker Institute for Public Policy found: "For the first time in nearly three decades, wealth inequality in the United States has declined. The wealth Gini coefficient - a standard measure of inequality - fell between 2016 and 2019, reversing a rising trend that has persisted since 1992." The same study, which was conducted by Ph.D. economist Jorge Barro, also found that "between 2016 and 2019, real median family wealth grew 17.7% from $103,460 to $121,760." Because association does not prove causation, these outcomes cannot automatically be attributed to President Trump, but they do disprove numerous negative media portrayals of the economy during Trump's tenure.

Reload Question
Reload Question
Share via Facebook
Share via Twitter
Share via Email
Embed into your website
About the Fact App
Articles by Topic