In the first quarter of 2015, US household net worth reached new all-time highs both in absolute terms and as a percentage of GDP. However, despite wages also hitting record highs, they have declined significantly as a share of GDP. Additionally, net worth has grown much faster than wages over time, so the ratio of net worth to wages is at its highest point ever. While the Federal Reserve has helped generate widespread wealth, this growth in household net worth has not translated to the level of consumption spending that might be expected.