American household wealth has hit a historic high, with savings accounts and equity portfolios seeing a big boost from federal pandemic relief and surging stock markets, according to a Federal Reserve report.
The Fed’s most recent Flow of Funds report, released Sept. 21, provides a snapshot of the wealth and income of U.S. households and nonprofit organizations as of June 30. The report shows that when the second quarter ended in June, household net worth—which is the value of homes, stock investments, and other assets minus what’s owed on mortgages and other loans—hit a record high of $118.9 trillion.
