(Bloomberg) -- Ray Boshara, director of the Center for Household Financial Stability at the Federal Reserve Bank of St. Louis, and William Emmons, say that while all birth cohorts lost wealth around the Great Recession, families headed by someone born in 1960 later had failed to get back on track by 2016, increasing the risk they may become a "lost generation" for wealth accumulation.

Boshara and Emmons, who just released "A Lost Generation? Long-Lasting Wealth Impacts of the Great Recession on Young Families," the second in their "The Demographics of Wealth 2018 Series: How Education, Race, and Birth Year Shape Financial Outcomes," spoke with Bloomberg Global Economics and Politics Editor Kathleen Hays at the Federal Reserve Bank of St. Louis in St. Louis, Missouri.