Americans ‘Don’t Like the Look of Things’ and Are Growing More Worried About Their Job and Their Finances
The share of households saying their finances worsened reached 43.7%, while one-year inflation expectations stayed nearly unchanged at 3.5%, the New York Fed said.
- On Monday, the Federal Reserve Bank of New York released a survey showing roughly 48% of Americans said their financial situation was worse than a year ago, the highest share since January 2023.
- Rising inflation driven by the US-Israeli war against Iran has pushed up consumer prices, with one-year inflation expectations reaching 3.5% as households face elevated energy costs.
- Consumers report growing anxiety about job security, with the perceived probability of job loss rising to 15.1%, a six-month high, and the likelihood of finding new employment falling to a five-month low of 43.7%.
- Wednesday brings the Bureau of Labor Statistics' release of the May Consumer Price Index, with economists surveyed by Dow Jones expecting headline inflation to rise to 4.2%.
- Expectations for household spending growth over the coming year fell to 5%, while the Federal Reserve Bank said sentiment regarding future financial conditions hit its lowest level since October 2022.
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29 Articles
Nearly Half Of Americans Say They’re Financially Worse Off Than A Year Ago
Source: Jacob Wackerhausen / Getty President Donald Trump won the 2024 election largely due to his promises to lower prices amid dissatisfaction with the Biden administration’s handling of the economy. We’re firmly into year two of Trump’s second term, and much of his administration’s actions have only exacerbated the cost-of-living crisis. So it should come as no surprise that roughly half of Americans believe they’re worse off financially than…
Americans haven't felt this worried about their household finances in years and expect the situation to only get worse, new survey data showed Monday.
Households in the US Show the Highest Level of Financial Concern Since 2022, According to Fed Report
According to the Fed survey, the percentage of Americans who consider their economic situation to be “something worse” than a year ago rose to 43%
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