Growth in U.S. household net worth cooled in the third quarter as wealth created by rising home values was eroded by a temporary pullback in the stock market.
Household net worth increased by almost $2.4 trillion, or 1.7%, after a $6.14-trillion jump in the second quarter, a Federal Reserve report showed Thursday. Although the quarterly advance was the smallest of the pandemic recovery, net worth still climbed to a fresh record of nearly $145 trillion.
Although the rise of the Delta variant of the coronavirus curbed spending and briefly dented equity prices during the period, the U.S. economy continued to improve. Solid job growth, robust consumer demand and the biggest company
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