Financial security of US households ‘fell sharply’ in 2022

US Federal Reserve
US Federal Reserve

The US experienced a decline in financial wellbeing over 2021–22, according to a Federal Reserve survey published May 22.

The share of respondents reporting they were either “living comfortably” or “doing okay” dropped five percentage points from 2021, to 73%.

“It is important that we continue to refine our understanding of the economic challenges facing US households,” said Federal Reserve board member Michelle Bowman.

The proportion of university degree-holders in these categories fell from

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