Rising stock market prices pumped wealth back into Americans’ pockets at the end of last year, but declining property values, slowed credit growth, and a drop in corporate profits may show the influence of Federal Reserve rate hikes beginning to take hold.
Household net worth rose 2 percent to $147.71 trillion in the fourth quarter of 2022 from $144.78 trillion at the end of the third quarter, the Federal Reserve reported on Thursday. The value of holdings of equities increased $2.7 trillion, while real estate values dropped by about $100 billion.
