U.S. household wealth increase in Q3 smallest of pandemic era, Fed says

• U.S. household wealth rose to a record $144.7 trillion at the end of the third quarter, a report from the Federal Reserve showed on Thursday, though the $2.4 trillion gain over the period was the smallest since the rebound from the coronavirus pandemic began. 
• Real estate values added around $1.4 trillion to overall wealth, according to the U.S. central bank's latest quarterly report on household, business and government financial accounts. The value of equities held by households and nonprofits fell by $300 billion. 
• The slower growth in U.S. household wealth suggests the boost from an unprecedented period of easy monetary policy and a fiscal firehose of aid initiated by former President Donald Trump and extended under President Joe Biden has begun to wane.

(Source: Reuters)