Americans’ Net Worth Surged by Most in Decades During Pandemic
- Households invested more, saw home values jump from 2019-2022
- Financial strength is thwarting Fed’s efforts to slow economy
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Americans experienced a record surge in net worth propelled by unprecedented government stimulus during the pandemic, laying the groundwork for economic resilience in 2023.
Inflation-adjusted median net worth jumped 37% to $192,900 from 2019 to 2022, according to the Federal Reserve’s Survey of Consumer Finances out Wednesday. That marked the largest three-year increase in data back to 1989, and it was more than double the next-largest one on record, the Fed said.