Federal Reserve Survey: 52% of American Consumers Unable to Handle $2,000 Emergency Expenses

According to Deep Tide TechFlow, a recent survey by the Federal Reserve on June 7 showed that 52% of American consumers cannot cover a $2,000 emergency expense relying solely on savings, and 31% cannot even afford a $500 unexpected expense.

In 2024, a record 37% of respondents indicated that inflation and prices are their main financial challenges, up from 35% in 2023, 33% in 2022, and 8% in 2016.