Why Aren't Millennials Spending? They're Poorer Than Previous Generations, Fed Says

Shoppers walk past a Saks Fifth Avenue outlet store on Black Friday at Dolphin Mall, last week, in Miami.

Millennials are less well off than members of earlier generations when they were young. They have lower earnings, fewer assets, and less wealth, a new Federal Reserve study says.

(Image credit: Lynne Sladky/AP)



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