September 27, 2022
78% of Americans are Satisfied with Their Financial Well-Being

Despite difficult financial markets, geopolitical concerns and a 41-year inflation high, Americans’ financial well-being reached its highest level since 2013, according to the Federal Reserve.

In the fourth quarter of 2021, 78% of adults reported either doing okay or living comfortably financially, according to the Fed’s Survey of Household Economics and Decisionmaking (SHED), released May 23.

“The SHED results provide valuable insight into Americans’ financial conditions during the late fall of 2021. This important perspective helps the Federal Reserve better understand the economic challenges that existed during that phase of the pandemic recovery,” Federal Reserve Board Governor Michelle W. Bowman, said in a press release.

The survey shows that financial well-being also increased among all the racial and ethnic groups measured in the survey, with a particularly large increase among Hispanic adults. In addition, parents were one group who reported large gains in financial well-being.

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