A surging stock market powered U.S. household wealth to a record high of more than $154 trillion in the second quarter, aided by a rebound in property values, Federal Reserve data out on Friday showed.
The data showed households have fully recouped the wealth losses generated by a crushing bear market for stocks and weaker real estate values through much of last year as the Fed kicked off an aggressive campaign to rein inflation through large, rapid-fire interest rate increases. Real estate was the other large driver, with property values rising for first time since the second quarter of 2022, contributing $2.5 trillion to the increase in net worth.
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