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This week noticed the discharge of the Fed’s huge annual analysis report, Financial Properly-Being of U.S. Households in 2022. It’s chock stuffed with nice charts and analyses, protecting every little thing from Earnings, Employment, Bills, Banking and Credit score, Housing, Pupil Loans, Retirement and Investments, and General Monetary Properly-Being.
Peter Coy fleshes out a lot of the main points right here: “Unemployment Is Low, However So Is the Nationwide Temper.” He notes:
“The Fed report is in step with different current surveys displaying a pessimism that’s considerably shocking, given the current discount within the (nonetheless excessive) inflation price, in addition to the continued power of the job market. (The unemployment price 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 exhibits an identical (however lesser) impression.
I discover it an ideal alternative to train my affirmation bias; I noticed a lot of issues I nodded my head sure to but in addition discovered myself vehemently disagreeing with.
You might know the report for the annual media funfest over the query on Surprising Bills: “May you cowl a $400 emergency expense utterly utilizing money?” (sure or no).
The media loves this difficulty — 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 largest driver of chapter in the US however not in different rich Democracies.
However don’t get hung up on that, it’s a huge assortment of sentiment surveys, and the Fed researchers do a pleasant dive sharing the entire particulars in a dry however helpful style…
Beforehand:
Is Partisanship Driving Shopper Sentiment? (August 9, 2022)
WFH vs RTO (February 16, 2023)
The Hassle with Shopper Sentiment (July 8, 2022)
Sentiment LOL (Might 17, 2022)
Supply:
Financial Properly-Being of U.S. Households in 2022
Federal Reserve, Might 2023
See additionally:
Unemployment Is Low, However So Is the Nationwide Temper
Peter Coy
NYT, Might 24, 2023
The submit Foul Temper? appeared first on The Large Image.
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