The Finance 202: U.S. wealth just hit a new record, even as more people steal in order to eat Tory Newmyer
with Brent D. Griffiths Americans collectively are richer than ever and getting more so. That fact would come as a surprise to tens of millions, including those who now have to steal to eat. But the bottom line for the total household net worth in the United States continues to swell: It rose 3.2 percent in the third quarter to $123.5 trillion, a Federal Reserve report showed Thursday. The surging stock market accounted for most of the gain, padding overall wealth by $2.8 trillion over the three-month period. Rising real estate values and increased savings contributed, too.
The Finance 202: Stimulus talks set off lobbying frenzy as businesses angle for last-minute relief Tory Newmyer
with Brent D. Griffiths Progress toward an economic relief package has stalled out again, as bipartisan talks give way to partisan finger-pointing. But a frenzy of lobbying activity on the measure keeps churning at full tilt, with businesses from beer brewers to airlines scrambling to secure a slice of a potentially trillion-dollar pie. The last must-pass bill of any Congress draws a lobbying crowd. This year with relief funding from last spring spent; federal aid programs set to expire; and pandemic-fueled shutdowns rolling across the map again