The rise in net Family wealth Nonprofits, which totaled $161 trillion at the end of the first quarter, were largely due to a $1.8 trillion increase in the value of real estate holdings and a $700 billion gain in the value of stock holdings.
Meanwhile, it rose Household debt At an annual rate of 3.2 percent, the fastest rate since the third quarter of 2022.
The report also showed that cash on hand decreased modestly, with total balances in Banks In addition to money market funds and properties, Currencies Foreign reserves stood at $18.44 trillion at the end of June, down from a record $18.51 trillion at the end of March.
The snapshot of household finances comes less than a week before the bank cuts. US Central Bank Borrowing costs are widely expected to rise for the first time since the pandemic-induced recession.
Policymakers are taking this step as inflation slows and in the hope of preventing Labor market The slowdown is likely to deteriorate further, pushing the broader economy into recession.
The market concluded Stocks The second quarter was near record levels, achieving S&P 500 Index The benchmark yielded a total return of 4.3 percent, including reinvested earnings.
