Rising US wealth doesn't generate spending surge

Associated Press
Rising US wealth doesn't generate spending surge

FILE - In this Monday, June 17, 2013, photo, specialist Peter Elkins is reflected in one of his screens at his post on the floor of the New York Stock Exchange. In the last six months the stock market rallied to record heights, home prices rebounded and the wealth of American households returned to where it was before the Great Recession. But despite it looking like exactly how Federal Reserve Chairman Ben Bernanke wanted it to, when the Fed announced a third round of bond purchases last September, the “wealth effect” may not be having the economic impact Bernanke hoped it would. (AP Photo/Richard Drew, File)

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