Americans' financial health reached its highest level in nearly a decade last year, the Federal Reserve said Monday, spurred by a strong job market and government support payments.
FILE - In this May 4, 2021 file photo is the Federal Reserve in Washington. Americans' financial health reached its highest level in nearly a decade last year, the Federal Reserve said Monday, May 23, 2022 spurred by a strong job market and government support payments.
, as consumer spending, adjusted for inflation, has continued to rise even as inflation is near a 40-year high. People with children also reported a sharp increase in financial well-being, with three-quarters saying they were doing “at least okay” financially, up eight percentage points from 2020 and four points above 2019, before the pandemic.
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