Fed Report Says Millennials Are Poorer Than Other Generations...But Fed Policies Made It Happen
Are millennials poorer than other generations?
According to the Fed, they are. There are many reasons for this but a large part of the blame could be tied to the Fed policies themselves.
Debt is the order of the day. The millennials are no exception. One of the biggest problems for them is their debt is not tied to assets unlike other generations. Instead of home ownership, which appreciate as prices increase, their debt is tied to student and car loans.
This type of debt does not help to grow wealth.
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Which was the generation that allowed unmoderated and unregulated growth of student loans? It’s easy to accuse us of something we didn’t even know happened.
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Give some time to them Millennials, who knows what the day will bring.