Report finds sustained economic growth in the U.S. since 2020 was boosted by rising household wealth
The net worth of the typical U.S. household grew at the fastest pace in more than three decades from 2019 through 2022, while low interest rates made it easier for households to pay their debts, according to a government report in October. Wealth for the median household — the midpoint between the richest and poorest households — jumped 37% during those three years, the Federal Reserve reported, to nearly $193,000. The figures are adjusted for inflation. The increase reflected primarily a jump in home values, higher stock prices, and a rise in the proportion of Americans who own homes...
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