U.S. household wealth reached a record $161 trillion in Q1, primarily due to rising equity prices.
U.S. household wealth reached a record $161 trillion in Q1, up $5 trillion from the previous quarter, primarily due to rising equity prices. Household debt as a percentage of GDP fell to its lowest in 23 years. Despite higher credit card and mortgage rates, S&P 500 and Nasdaq gains suggest positive wealth effects, supporting consumption-driven growth and a potential soft economic landing.
June 21, 2024
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