Inflation & Prices
More Americans Struggling With Their Finances, Fed Survey Shows
- Share doing at least OK financially near lowest since 2016
- Only 63% said they’d cover emergency $400 expense using cash
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Increasing numbers of Americans say they are struggling with their finances, according to a new Federal Reserve report revealing the toll that inflation has taken on US households over the past year.
Some 73% of adults were “doing at least OK financially” as of October, down five percentage points from a year earlier and among the lowest levels since 2016, the central bank’s annual Survey of Household Economics and Decisionmaking, published Monday, showed.