American Household Wealth Soars to Record $156 Trillion on Stock Market Gains
• US household net worth hit a record $156.2 trillion in 2023, per Fed data • The increase was primarily driven by a $4.7 trillion rise in corporate equity values • The total value of stocks owned by Americans rose to $47.5 trillion, up from $39.7 trillion • Americans' wealth jumped $4.8 trillion in Q4 amid a year-end stock market rally • Stock gains have continued into 2024 on AI enthusiasm and hopes of Fed rate cuts