• American household wealth dropped by $400 billion in the third quarter due to stock price declines outpacing real estate gains, according to the Federal Reserve.
• A Friday report from the Fed shows household net worth declined from $143.7 trillion at the end of June to $143.3 trillion at the end of Sept., Reuters reported.
• It was the third consecutive quarter household wealth declined following a record drop in the second quarter.

Tagged: #Bidenflation