The stock and housing markets push the net worth of American households to record highs, implying worries about the gap between the rich and the poor.

On Thursday, local time, the Federal Reserve released its financial account report for the second quarter of this year, which is also the most important data to understand the "wealth" of the U. S. residential sector.

With the stock market at an all-time high and house prices rising at an unprecedented rate, the net worth of US households rose by $5.8 trillion in the second quarter to an all-time high of $141.7 trillion, up $23.2 trillion from the end of the second quarter of last year, according to the report. The Fed said that in the three months of the second quarter of this year, US households' direct or indirect holdings of corporate securities rose by $3.5 trillion, while the value of real estate also increased by $1.2 trillion. At the end of the reporting period, the market value of securities held by American households reached $46.98 trillion, accounting for 29.5% of total assets.

There is no doubt that these figures are inseparable from the "flooding" of the White House and the Federal Reserve. While extremely loose monetary policy pushes up the stock market, extremely low mortgage interest rates also stimulate more buyers to pour into the property market, directly leading to a sharp rise in house prices. A surge in wealth driven by rising asset prices tends to lead to a further widening gap between rich and poor, such as many Americans who do not invest in stocks, and people who do not own real estate find it harder to get on the bus after a surge in house prices.

Synchronize's rise in assets was accompanied by a further expansion of US debt exposure to $63.3 trillion, of which US household debt rose 7.9 per cent year-on-year to $17.3 trillion, while non-bank corporate debt rose slightly to $18 trillion, while overall government debt rose to $28 trillion, driven by a 9.6 per cent rise in federal debt.

It is worth mentioning that the US Congress is currently engaged in a confrontation over raising the debt ceiling and approving government spending. at present, the House of Representatives has passed an expedient spending bill to support the government's operation until December and suspend the debt ceiling until the end of next year, but there is still great uncertainty about whether it can be approved by the Senate.