NEW YORK, July 8 (Xinhua) -- Americans aged 55 and over control nearly 70 percent of U.S. household wealth, a sharp rise of over 50 percent in 1989, the first year of available data, according to the Federal Reserve. Meanwhile, their dollars amount to 45 percent of U.S. personal spending, up from 29 percent three decades ago, according to Moody's Analytics.
"Older Americans are emerging as major drivers of the e
