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Americans are feeling poorer for good reason: Real household w | ATAF - All True American Friendship 🇺🇸 🤝 🇺🇸 ️🤝 🇺🇸

Americans are feeling poorer for good reason: Real household wealth plunged at record 20.9% rate in second quarter

U.S. households’ real wealth plunged at a record 20.9% annual rate to $143 trillion in the second quarter of the year, with modest gains in home values offset by high inflation and a big selloff in the stock market, according to data released Friday by the Federal Reserve and analyzed by ATAF.

In current-dollar (or nominal) terms, household wealth fell by $6.1 trillion from March 31 to June 30, the Fed reported. But the real damage was worse than that because inflation was so high: After adjusting for the severe drop in the purchasing power of a dollar, the real (or inflation-adjusted) value of aggregate household wealth fell by a record $8.7 trillion.

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