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FDIC: Recent Changes in U.S. Family Finances

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Recent Changes in U.S. Family Finances: Evidence from the 2001 and 2004 Survey of Consumer Finances

  • “The Federal Reserve Board’s Survey of Consumer Finances for 2004 provides insights into changes in family income and net worth since the 2001 survey. The survey shows that, over the 2001–04 period, the
    median value of real (inflation-adjusted) family income before taxes continued to trend up, rising 1.6 percent, whereas the mean value fell 2.3 percent. Patterns of change were mixed across demographic groups. These results stand in contrast to the strong and broad gains seen for the period between the 1998 and 2001 surveys and to the smaller but similarly broad gains between the 1995 and 1998 surveys.”
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