Federal Reserve Study: Recession Shrank Your Wealth - FOX44 - Burlington / Plattsburgh News, Weather & Sports

Federal Reserve Study: Recession Shrank Your Wealth

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WASHINGTON -

A Federal Reserve survey found, the recession shrank your wealth significantly.

In 2010, the median family net worth was no more than it had been in 1992, after adjusting for inflation.

The survey found the median net worth declined from about $125,000 in 2007 to about $80,000 in 2010.

The median marks the point where half had more and half had less.

The recession officially began in December 2007 and ended in June 2009.

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