More Money

In 18Q1, US household wealth increased 1% to a record $100.8 trillion, or 6.83 times disposable income, close to the peak of 6.85 set in 17Q4, and well above the pre-recession 2006 peak of 6.50. These steady increases in household wealth since early 2009 are juicing the economy less than in previous decades because average age is rising, wealth inequality is worsening, and memories of the Great Recession remain fresh.