JACKSON, Wyo. — Surprise, surprise: Teton County is wealthy. It remains the wealthiest county in the country.
It’s wealth isn’t new. But the “wealth gap” has risen, and U.S. Federal Reserve officials are going to talk about it this week during their annual economic symposium, according to a recent report from Bloomberg.
Per-capita income from asset ownership has skyrocketed over the past few decades, and Teton County’s in the highest, Bloomberg reported. That’s according to a study by the Economic Innovation Group. It’s largely because the “uber-rich” are increasingly attracted to Jackson, and Wyoming, as a tax haven and rural mountain retreat.
“Asset ownership offers people something to fall back on during periods of economic uncertainty that could result from unemployment, illness, or, as it has been the case for many Americans over the past year, a pandemic,” Bloomberg reporter August Victoria Saraiva writes. “But for those who live paycheck to paycheck, saving and investing is hardly an option.”
The Federal Reserve’s annual symposium usually takes place here in Jackson at the base of the Tetons, but is being held virtually this year due to concerns about the Delta variant. Federal Reserve Chairman Jerome Powell’s remarks will be livestreamed to the public at 8 a.m. mountain time.
