Household wealth in America reached a record high of $1.7 trillion in the second quarter of 2017 due to rising property values and gains in financial assets, according to a Federal Reserve report released Thursday.
The report showed that low inflation and a strong job market contributed to Americans’ improved purchasing power, which in turn, helped drive household spending and boosted the economy.
Gains in the stock market also enabled companies to invest more of their resources. Companies had nearly $2.3 trillion in liquid assets that could be put toward investment, according to the report. – READ MORE
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