US Household Net Worth Falls Most on Record on Slump in Stocks


US household net worth declined in the second quarter by the most on record as aggressive action by the Federal Reserve to tame rapid inflation sent stocks plunging.

Household net worth decreased by $6.1 trillion in the April-June period, or 4.1%, after falling about $147 billion in the first quarter, a Fed report showed Friday. The back-to-back quarterly declines pushed the the total down to $143.8 trillion, the lowest in a year.

The value of equity holdings slumped $7.7 trillion, while the value of real estate held by households rose by $1.4 trillion.

Decline reflected slump in equities as inflation spiked, Fed hiked rates
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The Biden Crime Family sure is lucky they have all their investments overseas.

You see this is why they needed the barcodes on everything and will drop cash soon. So the Government can tell you how you are wasting money, no higher than 65 degrees heat in the winter no cooler than 80 in the summer, That beef and fish why just have some lovely cricket flour chips it has loads of protein and stuff super cheap for now, very sustainable. Travel? Vacations? Pets? Clean food? luxuries of a racist past.
I know conspiracy theory, Charles Swabb wrote a book, they openly tell you of their plans for you, but dont believe they really want a 90 % reduction in population. Dont believe they really want you to be renters of their properties if you are one that survives to obey.
All this Smart stuff may not be so smart when you are no longer in control of it.

Two totally different guys, Kitt.
You mean:
Klaus Martin Schwab, born 30 March 1938 is a German engineer, economist and founder of the World Economic Forum (WEF). He has acted as the WEF’s chairman since founding the organisation in 1971.

Charles Robert Schwab Sr. (born July 29, 1937) is an American investor and financial executive. He is the founder and chairman of the Charles Schwab Corporation. He pioneered discount sales of equity securities starting in 1975. His company became by far the largest discount securities dealer in the United States. He semi-retired from the company in 2008 when he stepped down as CEO, but he remains chairman and is the largest shareholder to this day.
Charles Schwab is an active Republican who has donated heavily to the party. In July 2017, Schwab donated the maximum legal individual amount of $101,700 to legal defense fund that partially paid for the legal defense of President Donald Trump in the Special Counsel investigation of possible coordination between the Trump campaign and Russia.

And just a short time ago Biden said inflation was zero. Oops.