In President Donald Trump’s America, household wealth is slowly but surely increasing, something that never happened under former President Obama!
The Federal Reserve said Thursday that Americans’ stock and mutual fund portfolios jumped $728 billion in value in the October-December quarter, while home values rose $557 billion.
Total household wealth, which includes checking and savings accounts and subtracts mortgages and other debt, jumped 2.3 percent to $92.8 trillion.
Debt owed by households was $28.1 trillion – which combines household debt, mortgages and credit card balances. By that measure, debt is slightly less than a third of overall wealth.
Plus, more Americans are millionaires.
There are now 6.8 million millionaires in the United States, according to Investment News:
“Households with $1 million or more in investible assets now number 6.8 million, up about 4% from the 6.5 million millionaire households last year, according to an annual study released today by Phoenix Marketing International.
While the overall wealth market is growing, the study found that the ratio of millionaires to total U.S. households has remained relatively flat and that wealth is more concentrated and shifting geographically.“
That’s a lot of millionaires.
Trump’s economic nationalism is bringing wealth back to Americans!