The net worth of U.S. households rose by 2% in the first three months of the year to $148.8 trillion, putting it close to a record high and suggesting the economy might have enough fuel to keep growing or at least to avert a steep recession.
Net worth increased by $3 trillion in the first quarter, from $145.8 trillion in the 2022 fourth quarter, according to the Federal Reserve’s flow of funds report. Most of the increase in net wealth in the first quarter was tied to a rebound in the stock market. The value of equities held by households jumped by $2.4 trillion.
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