Rent Is Harder to Handle and Inflation Is a Burden, a Fed Financial Survey Finds

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American households struggled to cover some day-to-day expenses in 2023, including rent, and many remained glum about inflation even as price increases slowed. That’s one of several takeaways from a new Federal Reserve report on the financial well-being of American households. The report suggested that American households remained in similar financial shape to 2022 — but its details also provided a split screen view of the U.S. economy. On the one hand, households feel good about their job and wage growth prospects and are saving for retirement, evidence that the benefits of very low unemployment and rapid hiring are tangible. And about 72 percent of adults reported either doing OK or living comfortably financially, in line with 73 percent the year before. But that optimistic share is down from 78 percent in 2021, when households had just benefited from repeated pandemic stimulus checks. And signs of financial stress tied to higher prices lingered, and in some cases intensified, just under the report's surface.