For many Americans, the pandemic-induced financial crisis has brought an onslaught of economic pain not seen since the Great Depression.
A banner against evictions is displayed on a rent-controlled building in Washington, Aug. 9, 2020."The people who benefit from it the most are people of upper class," Goldstein said."Generally, people who are poor and not earning as much, they don't have the exposure to the stock market. There are all sorts of studies over the years on inequality and the stock market, but, in general, the poorer you are, the less likely you are to be exposed to these gains in the stock market.
Historically, Sonders told ABC News, markets peak before economies peak, and markets crash before economies crash. "The two obviously reflect one another over the long term, but just because the stock market is either going up or down is not at the same time an automatic reflection of what the economy is doing," she added."There's not always a lot of correlation between the two at a given moment in time."A key reason markets have climbed, Goldstein and Sonders agreed, is because the Federal Reserve took dramatic steps to maintain liquidity.
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