Inflation has sapped Americans' financial security, Federal Reserve finds


bernard

THEE Realist
One clear barometer of Americans' financial fragility, according to the survey: Only 63% of those surveyed said they had enough cash to cover an emergency $400 expense, down 5 percentage points from 2021. Of that total, 18% said the largest expense they could handle with savings was $100.
 
A decent article I suppose. It would have been more informative if he included how static salaries have remained during the same time period.
 
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Yeah inflation is kicking ass! Everything is up. And once those student loans kick in it will get worse. And Black people will feel it the worst b/c most of us are not married (no tax break) and/or have children we can't afford. I have a cousin who makes $30K a year with 3 kids ... where they do that at??
 
This is the first time this generation has experience inflation. Its a weird time economically, low unemployment, spending seems to have not been reduced at a significant rate and we have high inflation. Americans do not seem to want to slow down even though prices keep rising. One way to reduce inflation is for consumers to cut spending.
 
This is the first time this generation has experience inflation. Its a weird time economically, low unemployment, spending seems to have not been reduced at a significant rate and we have high inflation. Americans do not seem to want to slow down even though prices keep rising. One way to reduce inflation is for consumers to cut spending.
and credit card debt is at an all time high. they spending on credit not debit
 
Is it really inflation or just corporations over charging though?
It's definitely businesses increasing prices. I read a story that outlined companies know they're charging above market prices on certain items (like produce, meat) but don't care because they know the public will still buy it.
 
and credit card debt is at an all time high. they spending on credit not debit
A lot of that could be explained by so many folks having to resort to using credit cards amid job losses/cut in earnings to pay bills during the height of the pandemic.
 
I agree. Companies are taking advantage of customers because they can do it.
The CEO of PepsiCo stated that they raised prices on Lays and soft drinks and they saw no drop in demand.

Americans are traveling like crazy. The associated tourist industry has raised prices (Airlines, Hotels, Car rentals, cruise ships etc...) and it has not impacted their businesses.
 
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