Household Wealth Jumps Sharply Since 2019, But Racial Gaps Persist

Median net worth climbed 37% from 2019 to 2022, the biggest jump since 1989.

Income rose across all groups but gains were biggest at the top, widening inequality.

More families invested in stocks, with 21% owning stocks directly in 2022 vs 15% in 2019.

Racial wealth gaps persist but Black and Hispanic families saw the largest percentage gains in net worth.

Solid household finances have helped sustain consumer spending, raising hopes of a "soft landing" for the economy.