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Household wealth jumps to near $97 trillion, 72 percent higher than crisis level

Household plenteousness in the U.S. rose nearly 2 percent in the third quarter and is approaching double the smooth out it was during the financial crisis, according to Federal Reserve data let Thursday.

The balance sheet for Americans now shows $96.9 trillion in cash, up from $95.2 trillion in the second quarter for a new record that part ofs an 8 percent gain from a year ago and a 72 percent surge since the 2008 disaster low.

Another quarter of stellar stock market performance contributed greatly to the holdings surge. Equity value jumped $1.1 trillion to $17.3 trillion. The S&P 500 has benefited more than 18 percent this year.

Debt across the clientele and private sectors also continued to move higher, with the household prone up 6.2 percent for the biggest gain in nearly two years and the second-largest agitate since the crisis.

However, the biggest move in that regard was the regime, which saw a 10.3 percent rise and is now more than $20 trillion. The Fed attributed the hit hard to the restoration of government trust funds the Treasury had been using to attend to operations going during the 2017 debt limit impasse.

Work debt rose 5.4 percent and household debt was up 3.7 percent, a remove that is consistent with previous quarters over the past year or so.

Emendation: An earlier version misstated the household wealth total.

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