home Latest News Richest 1% of Americans close to surpassing wealth of middle class – The Philadelphia Inquirer

Richest 1% of Americans close to surpassing wealth of middle class – The Philadelphia Inquirer

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Chalk up at least part of their good fortune to interest rates, said Stephen Colavito, chief market strategist at Lakeview Capital Partners, an Atlanta-based investment firm for high-net-worth investors. People can’t get much of a return on certificates of deposits and other passive investments, so they’ve pumped money into stocks and propped up the market overall, he said.