The Financial Crisis Cost Every American $70,000, Fed Study Says
Bloomberg, Aug. 13, 2018–Jeanna Smialek
Gross domestic product remains well below what its 2007 trend would have implied and it’s unlikely the economy will ever make up that lost ground, according to research from the Federal Reserve Bank of San Francisco published Monday. The hit will cost the average American $70,000 in lifetime income, they estimate.
