Each year the Federal Reserve Board releases its annual Survey of Household Economics and Decision-making. This year’s report includes supplemental questions fielded just as the coronavirus took hold. Their results show that from the start of March through early April, 19 percent of adults reported losing a job, being furloughed, or having their hours reduced. Many of these adults are struggling to pay their bills.
On June 16, the Future of the Middle Class Initiative discussed the results of this survey and its implications on financial security and household stability in this troubling time. Jeff Larrimore of the Federal Reserve Board provided an in-depth look at the results, followed by a panel conversation where he was joined by Brookings scholars Jenny Schuetz, Camille Busette, and Richard Reeves.
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