Federal Reserve Survey: 52% of Americans Unable to Handle $2,000 Emergency Expense as Inflation Pressures Continue to Mount
According to an article by The Kobeissi Letter, a recent Federal Reserve survey shows that 52% of American consumers cannot handle a $2,000 emergency expense solely with their savings, and 31% cannot even cover a $500 unexpected expense. In 2024, a record 37% of respondents indicated that inflation and prices are their main financial challenges, up from 35% in 2023, 33% in 2022, and 8% in 2016.
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