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S6 · THE LOWER LEG OF THE K

Share of net worth held by the bottom 50% of households

2.50
CALM ROBUST z 0.86 DRS 95 quarterly as of 2025-10-01

Where it sits: higher than ~61% of its last decade.

The full history

1989 high 4.10 · low 0.40 · now 2.50 · 4 recessions shaded 2025

How it is read

What it measures
the lower leg of the K
Where it sits
higher than ~61% of its last decade — at the 61th percentile of its last decade.
z vs. its window
0.86 (strain side: down). 38 observations in the window.
State rule
z < 1 CALM · 1 ≤ z < 2 WATCH · z ≥ 2 EXTREME, measured only toward the declared strain side.
Confidence
ROBUST — a primary official series, mechanically reported.
Reliability (DRS)
DRS 95 — Fed Distributional Financial Accounts, quarterly since 1989. Half the country holds ~2.5% of the wealth; the tile reads the direction. Trend-dominated: a steadily trending series always prints high-z eventually; the state reads how far along the trend, vs the recent decade. Disclosed.

Where it comes from

FRED ↗ Every number on this site is reproducible from this primary source.

What it read at past stress points

Lehman, Sep 2008 1.20 ▲ EXTREME
Q4-2018 selloff 1.60 · CALM
Curve inversion, Aug 2019 1.70 · CALM
COVID crash, Mar 2020 1.80 · CALM

Questions it helps answer

  • Who Gets What — Where does the wealth sit — and who keeps the output?