Reported 27 days ago
According to Federal Reserve data, U.S. household wealth rose to a record $163.8 trillion in the second quarter of 2024, primarily driven by a $1.8 trillion increase in real estate values and a $700 billion gain in stock equity. This increase comes despite a 3.2% rise in household debt, the fastest rate since Q3 2022, while cash holdings decreased slightly to $18.44 trillion. The report arrives ahead of anticipated interest rate cuts from the Federal Reserve as inflation stabilizes.
Source: YAHOO