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Households had better financial security after the pandemic than they did before it, thanks to relief programs

By Nihal Krishan
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Households had better financial security after the pandemic than they did before it, thanks to relief programs

People are better able to handle small financial emergencies after the coronavirus pandemic started than before thanks to relief programs, a Federal Reserve Board survey released Friday showed.

The Fed survey showed that approximately 70% of adults said in July that they would be able to pay entirely for an unexpected $400 emergency expense by using immediate financial resources. That is an increase from 63% last October, before the pandemic.

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COVID-19 Federal Reserve Stimulus