Younger generations grew their wealth much faster than older Americans after the pandemic began, thanks largely to stocks, according to a new study. The wealth increase far outpaced that of older generations. The biggest driver of the wealth gains for younger generations was stocks, according to the study. The study said that younger generations received larger stimulus checks during the pandemic and used the funds in part to buy stocks. As the stock market hovers near record highs, the wealth gap between the younger and older generations may continue to narrow.

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Persons: Rob Gruijters Organizations: New York Federal Reserve, England's University of Cambridge