NEWSFLASH: When people don’t have money it’s bad for the economy
“Millennials are less well off than members of earlier generations when they were young, with lower earnings, fewer assets, and less wealth. … Conditional on their age and other factors, millennials do not appear to have preferences for consumption that differ significantly from those of earlier generations,” the report reads.”
Millennials have been blamed for killing plenty of industries. But according to the Federal Reserve, it’s not their fault.