Free Republic

The net worth of U.S. households rose in the first quarter due to the rising value of homes and investments, a positive sign for the outlook for consumer spending. The increase added $1.6 trillion to the total wealth of American families, putting it at a new record high of $84.9 trillion, a report by the Federal Reserve showed on Thursday. While the economy and consumer spending was sluggish in much of the first quarter, the data suggests U.S. households are on a better financial footing and consumers may open their wallets more. Many economists believe that consumers spend a few...