from the Federal Reserve
In the fourth quarter of 2020, nearly one-fourth of adults said that they were worse off financially compared to a year earlier, reflecting the economic fallout and distress resulting from the global COVID-19 pandemic. The Federal Reserve Board’s report, Economic Well-Being of U.S. Households in 2020, which was released on Monday, found a larger share of adults were worse off in 2020 than in previous years of the survey. This change occurred broadly across the population, but not all groups fared similarly.
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