U.S. household wealth rose to a record high, helped by a rising stock market
2024-12-12 18:11:52
By the United States President pre-election stock market push United States Q3 householddesk3cryptocurrencydesktopCrypto News
US household wealth hit a record high in the third quarter, boosted by a rally in the stock market ahead of the US Presidential Election. Household net worth rose nearly $4.80 trillion, up 2.9% from the previous quarter to $168.80 trillion, according to a report released by the Federal Reserve on Thursday. Americans' stock holdings increased by $3.80 trillion, while real estate values fell by nearly $200 billion. Investors benefited from a rally in equities in the third quarter on expectations at the time of a Fed interest rate cut and Donald Trump's return to the White House next year. Since Trump's victory in the November 5 election, the S & P 500 Index has climbed to new highs on expectations that the president-elect will enact pro-business policies.
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