This week noticed the discharge of the Fed’s large annual analysis report, Financial Nicely-Being of U.S. Households in 2022. It’s chock filled with nice charts and analyses, protecting every thing from Earnings, Employment, Bills, Banking and Credit score, Housing, Scholar Loans, Retirement and Investments, and Total Monetary Nicely-Being.
Peter Coy fleshes out numerous the main points right here: “Unemployment Is Low, However So Is the Nationwide Temper.” He notes:
“The Fed report is in line with different current surveys displaying a pessimism that’s considerably shocking, given the current discount within the (nonetheless excessive) inflation charge, in addition to the continued energy of the job market. (The unemployment charge in April, 3.4 %, 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 the same (however lesser) impression.
I discover it an excellent alternative to train my affirmation bias; I noticed numerous issues I nodded my head sure to but additionally discovered myself vehemently disagreeing with.
You might know the report for the annual media funfest over the query on Sudden Bills: “Might you cowl a $400 emergency expense fully 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 the US 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 the entire particulars in a dry however helpful vogue…
Beforehand:
Is Partisanship Driving Client Sentiment? (August 9, 2022)
WFH vs RTO (February 16, 2023)
The Hassle with Client Sentiment (July 8, 2022)
Sentiment LOL (Could 17, 2022)
Supply:
Financial Nicely-Being of U.S. Households in 2022
Federal Reserve, Could 2023
See additionally:
Unemployment Is Low, However So Is the Nationwide Temper
Peter Coy
NYT, Could 24, 2023
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