Wealthy Americans broke the record.

By | September 22, 2020
Wealthy Americans broke the record.

The current indicator was achieved against the background of measures taken to support the economy by the administration of President Donald Trump.

The net asset value of households and non-profit groups in the U.S. in the second quarter of 2020 rose by 6.8% to $ 118.96 trillion, Interfax news agency reported on Tuesday, September 22, citing data from the U.S. Federal Reserve. This figure is a record and was achieved against the background of measures taken to support the economy by the administration of President Donald Trump.

Compared to the end of 2019, the welfare of American households increased by about $380 billion.

At the same time, household debt rose by 25.3% in the second quarter, to $59.3 trillion. The previous record rise of 19.25% was recorded in 1985.

As reported, in the second quarter of 2013 the net asset value of households and non-profit groups in the U.S. reached $74 trillion 820.9 million. This was the largest figure in the history of data collection since 1945, but it does not take into account inflation and population growth.