The Federal Reserve Board Survey of Consumer Finances showed that in 2007 the wealthiest one percent of U.S. households owned 34.3 percent of all private wealth, more than the bottom 90 percent of households combined.

Question

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According to the data from the Federal Reserve Board's Survey of Consumer Finances, in 2007, the wealthiest 1% of U.S. households did indeed own a disproportionately large share of the country's wealth, amounting to more than the combined wealth of the bottom 90% of households. This statistic highlights the significant wealth inequality present in the United States at that time.

The Federal Reserve Board Survey of Consumer Finances Showed That