Despite Growth, Economists Remain Worried About Size of the Middle Class
Although most states, including Indiana, enjoyed a slow-growth of the middle class between 2016 - 2017, a staggering number of households have not recovered to the levels of 2000. Since the Great Recession of 2008, the middle class has not rebounded financially as well as economists would have hoped, leading to growing concern from experts.
The Federal Reserve Bank of Chicago hosted a conference to discuss the financial struggles of the middle class, with Chairman Jerome Powell saying, “The kind of generational improvements in living standards that were long the hallmark of the American middle class have steadily diminished.”
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