Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
U.S. households' overall financial well-being declined markedly over the prior year, according to a report released by the Federal Reserve Monday.
The share of adults who said they were worse off financially than a year earlier rose to 35%, the highest level since the question was first asked in 2014. Seventy-three percent of adults were doing at least okay financially in 2022, down 5 percentage points from 2021, according to a report that draws from the Fed's tenth annual SHED survey which was conducted in October of last year.
The 2022 survey found that self-reported financial well-being was among the lowest levels observed since 2016. It also shows that higher prices have negatively affected most households, though workers continued to experience a strong labor market.
Consistent with declines in overall financial well-being, 63% of adults said they would cover a hypothetical USD400 emergency expense exclusively using cash or its equivalent, down from a high of 68% in 2021.
Source: Federal Reserve
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.