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Fortune
Fortune
Chloe Berger

After 7 straight quarters when Americans kept getting richer, total household net worth just fell by $500 billion

Inflation
Woman at kitchen table looking at her bills (Credit: Getty Images)

In a continuation of bad news, the Federal Reserve’s latest report on the Financial Accounts of the United States announced that the total household net worth fell for the first time after seven straight quarters of expansion. 

Specifically, it fell by $0.5 trillion, or $500 billion, to $149.2 trillion in the quarter that ran from January through March.

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