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Household net worth climbed nearly $6.1t from the prior quarter to $181.6t, a Federal Reserve report showed Friday. The value of Americans’ equity holdings increased $5.5t. The S&P 500 rallied throughout the third quarter and reached a record, fueling increased wealth among Americans who invest.
Business debt outstanding was little changed from the prior quarter at a 3.93% annualized rate. In the public sector, state and local government debt increased at a 5.5% pace. Federal debt rose at a 15.5% rate, the most since the pandemic.
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