Before Omicron, inflation and war, Americans' finances hit new highs, survey shows
CNN
Things were looking up for most Americans by the end of last year, with many households reporting their financial situation was better than at any time since 2013.
Nearly 7 out of 10 Americans surveyed by the Federal Reserve said they had the cash or cash equivalents on hand to cover a $400 emergency expense, the highest level since the Fed started tracking financial well-being. Moreover, a record 78% of adults reported they were either "doing okay" or "living comfortably," according to the Fed's Economic Well-Being of US Households 2021 report, released Monday.
The findings were drawn from the Fed's ninth annual Survey of Household Economics and Decisionmaking, which looks at American's economic health across a variety of areas, including employment, income, banking and credit, housing, retirement planning, student loans, and, for the first time, cryptocurrency.
