JEPI - U.S.: Wealth Surges Even In A Pandemic

• Despite the pandemic and the resulting lockdowns, business closures and, at its worst point, the loss of more than 20 million jobs, the US household balance sheet improved massively through 2020.
• US household net worth increased $12.6 trillion last year as unprecedented fiscal and monetary support first stabilised the economy before fuelling a recovery in risk appetite.
• While the rich are undoubtedly getting richer, there is evidence that less well-off households have seen some improvement, which will provide a strong platform for growth in 2021.

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