The Washington Post
Net worth increases for U.S. households
Rising stock market prices pumped wealth back into Americans’ pockets at the end of last year, but declining property values, slowed credit growth and a drop in corporate profits may show the influence of Federal Reserve rate increases beginning to take hold.
Household net worth rose 2 percent to $147.71 trillion in the fourth quarter of 2022 from $144.78 trillion at the end of the third quarter, the Fed reported Thursday.
The value of holdings of equities increased $2.7 trillion, while real estate values dropped by about $100 billion.
The quarterly snapshot of U.S. financial accounts also showed credit growth was slowing among households and businesses as the year ended, in the face of a sharp increase in interest rates engineered by the Fed during 2022.