This week noticed the discharge of the Fed’s large annual analysis report, Financial Properly-Being of U.S. Households in 2022. It’s chock stuffed with nice charts and analyses, masking every part from Earnings, Employment, Bills, Banking and Credit score, Housing, Scholar Loans, Retirement and Investments, and Total Monetary Properly-Being.
Peter Coy fleshes out plenty of the small print right here: “Unemployment Is Low, However So Is the Nationwide Temper.” He notes:
“The Fed report is according to different latest surveys displaying a pessimism that’s considerably stunning, given the latest discount within the (nonetheless excessive) inflation price, in addition to the continued energy of the job market. (The unemployment price in April, 3.4 p.c, tied for the bottom since 1969.)”
It’s been a peeve of mine that partisanship has even contaminated the Michigan Sentiment surveys; the Fed survey reveals an analogous (however lesser) affect.
I discover it an incredible alternative to train my affirmation bias; I noticed plenty of issues I nodded my head sure to but additionally discovered myself vehemently disagreeing with.
It’s possible you’ll know the report for the annual media funfest over the query on Surprising Bills: “May you cowl a $400 emergency expense utterly utilizing money?” (sure or no).
The media loves this subject — I discover it to be a good query however I dislike how the Press concurrently sensationalizes it, and but by no means appears to handle the underlying causes. Curious that medical bills are the most important driver of chapter in america however not in different rich Democracies.
However don’t get hung up on that, it’s a large assortment of sentiment surveys, and the Fed researchers do a pleasant dive sharing all the particulars in a dry however helpful trend…
Beforehand:
Is Partisanship Driving Shopper Sentiment? (August 9, 2022)
WFH vs RTO (February 16, 2023)
The Hassle with Shopper Sentiment (July 8, 2022)
Sentiment LOLÂ (Might 17, 2022)
Supply:
Financial Properly-Being of U.S. Households in 2022
Federal Reserve, Might 2023
See additionally:
Unemployment Is Low, However So Is the Nationwide Temper
Peter Coy
NYT, Might 24, 2023
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