The Fed's Myth Buffing the Most Americans Can't Come Up With a $400 Emergency Thing

The Fed's survey of household well being, which asks household if they would cover a $400 emergency using cash or or anything else available, 63% said yes, in 2022 down from 68%. So people say, well, that's almost 40% of people could not come up with $400 for an emergency. We've talked about this, but I feel like we have to beat this into people because they I keep seeing it. If faced with a $400 expense, 87% of households could still pay their bills. They would just use some other form of money.

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