Ed McKelvey Top Quotations

For example, the lowest-wealth quartile has no net worth on balance, while the next quartile has controlled only about 3 percent of the total, and the top 10 percent have held about two- thirds. These figures have changed little over the past decade, a fact that attests to the difficulty that many households have in accumulating wealth.

At the margin they reinforced our growing sense that Fed tightening might stop before the federal funds rate reaches the 5 percent level we are currently forecasting.