So Americans are this poor?!

Federal Reserve Survey: 52% of Americans Cannot Handle a $2,000 Emergency Expense, Inflation Pressure Continues to Intensify

According to a post by The Kobeissi Letter, the latest survey by the Federal Reserve shows that 52% of American consumers cannot rely on savings to handle a $2,000 emergency expense, and 31% cannot even afford an unexpected expense of $500. In 2024, a record 37% of respondents reported that inflation and prices are their main financial challenges, up from 35% in 2023, 33% in 2022, and 8% in 2016. $BNB