- Sept. 24, 2018
-- A red-hot stock market lifted U.S. household wealth to a record $106.9 trillion in the April-June quarter, has increased the wealth of all American's.
President Trump's economic policies are credited with the red-hot stock market and the improving nationwide economic standards.
The value of Americans' stock and mutual fund portfolios rose $800 billion last quarter, while home values increased $600 billion, the Federal Reserve said Thursday. Total household wealth is now 2.1 percent higher than in the first quarter, when it was $104.7 trillion.
The Fed's report came on a day when a wave of buying on Wall Street sent U.S. stocks surging and lifted both the Dow Jones Industrial Average and the Standard & Poor's 500 stock index to all-time highs. The Dow has gained nearly 8 percent this year, the S&P nearly 10 percent.
The Fed revised its previous quarterly data to show that household wealth was higher earlier this year than previously reported. Household wealth in the first quarter is now about $4 billion higher than was original reported.
The article was published by Winston Rowe and Associates. A commercial real estate due diligence and advisory firm, they can be contacted at http://www.winstonrowe.com