Wednesday, May 23, 2018

Suffering and not benefiting

The stock market has been on a boom in recent years and many corporations are reporting strong profits.
Four in 10 Americans are unable to cover an unexpected expense of $400 or more without resorting to borrowing money or selling some of their possessions, a Federal Reserve annual economic survey has found.
At the same time, in 2017 one in five Americans knew someone who was addicted to opioids or painkillers.
“Even with the improvement in financial outlook, however, 40% of Americans still say they cannot cover a $400 emergency expense, or would do so by borrowing or selling something,” said Federal Reserve Board governor Lael Brainard in a statement.

No comments: