Reported 2 months ago
A study by the Federal Reserve Bank of San Francisco reveals that middle- and low-income Americans are running out of disposable cash, with their liquid assets significantly declining since the COVID pandemic. The study indicates that the lowest 80% of income households are currently about 13% below their projected financial path pre-pandemic, in contrast to a 2% drop for the highest income bracket. This trend has been exacerbated by rising credit card delinquencies among lower-income families, posing potential risks to future consumer spending growth.
Source: YAHOO