During Covid-19, Most Americans Got Ahead Especially the Rich – WSJ

In some ways, the singularity of the Covid-19 recession and the recovery shouldn t surprise. The scope of the pandemic was unprecedented in the modern era.

So was the government s financial response. The U.S. borrowed, lent and spent trillions of dollars to keep the economy from plunging further than it did.

These actions were at the center of the unusual nature of both the recession and the recovery. They have also powered much of the stock market s unexpected boom. Rock-bottom interest rates lured more investors into stocks; workers stuck at home tried their hand at trading and tech giants gained even more ground during the shutdown.

The stock market, in turn, became the driver of the household wealth gain, accounting for nearly half the total increase.

via www.wsj.com

It will be interesting to see how this all turns out. I hope I’ll be glad to see it.