Households in Fed Survey Felt Vulnerable Despite Economic Gains
- More were ‘doing OK’ or ‘living comfortably’ in Fed survey
- Income outlook soured, and stark socioeconomic contrasts show
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A substantial share of Americans lacked retirement savings and fewer households were confident in the outlook for their income at the end of last year.
That’s according to a Federal Reserve report on the economic well-being of U.S. households in 2015, released Wednesday. The findings show that while respondents increasingly reported that they are “doing OK” or “living comfortably,” a smaller share said they expected income growth than in the prior year’s survey. Thirty-one percent of non-retired Americans said they had no retirement savings at all, unchanged from 2014.