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U.S. Household Wealth Hits a Record in First Quarter

U.S. household wealth rebounded to a record in the first quarter as the stock market recovered from a plunge in the prior period, supporting consumers after Federal Reserve interest-rate hikes and trade-war shocks rattled investors late last year.

Net worth for households and non-profit groups increased by $4.69 trillion, or 4.5%, to $108.6 trillion after a 3.7% drop in the prior period, Federal Reserve data showed Thursday. Household debt growth slowed to a 2.3% annual pace, the least since late 2015, from a 2.8% rate in the prior quarter.