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Economics Federal Reserve

The Top 1% Received all of the $4 Trillion Printed in 2020

The $4 trillion created by the Federal Reserve as part of the 2020 stimulus program appears to have gone entirely to the top 1% wealthiest people in the world.

The $4 trillion of new money created by the Federal Reserve as part of the 2020 stimulus program has gone entirely to the top 1% wealthiest people in the world.

Here’s a chart of the Total Assets Held by the Top 1% in 2020.

Total Assets Held by the Top 1% (99th to 100th Wealth Percentiles) St. Louis Fed

Below illustrates the idential increase in the M2 money supply.

The Fed could distribute all new money equally in the form of stimulus payments. However, instead they use “Open Market Operations” to buy securities and effectively pump all new money entirely into Wall St.

Why is this fact at the bottom of nearly every Republican and Democrat’s list of concerns?