Roughly one in six households couldn’t pay all their monthly bills in 2023, a report released by the Federal Reserve shows Nearly two-thirds of US households say their financial situation worsened last year, while one in five assessed their ability to meet payments as becoming “much worse,” according to an annual survey published by the Federal Reserve on Tuesday. The Fed’s Economic Well-Being of US Households report for 2023, focused on the financial lives of US adults and their families, showed that overall financial well-being was nearly unchanged from the previous year, but was below the high recorded in 2021.
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