A third of middle-class adults can't afford to pay for a $400 emergency (via CNBCMakeIt)
Financial security, Brainard said, is an important marker of middle-class living. That so many households are having trouble saving for even minor crises is bad news for the economy.
"Having a strong middle class implies that families with average incomes have the purchasing power to consume and the savings to invest," said Brainard. "So a strong middle class is often seen as a cornerstone of a vibrant economy and, beyond that, a resilient democracy.
"The wealth of the top 10% of households is 19% higher than before the recession, even after factoring in the decline in stock prices at the end of last year," said Brainard. "In contrast, the wealth of middle-income families still has not returned to its pre-crisis level, and lower-income families have a wealth shortfall of 16%."
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Google’s new $400 smartphone takes absolutely gorgeous photos — here's proofGoogle's new smartphone, the $400 Pixel 3a, takes absolutely stunning photos.
Baca lebih lajut »
Fed's Kaplan says interest rates are about where they should beDallas Federal Reserve Bank President Robert Kaplan on Monday said that the Fed ...
Baca lebih lajut »
Fed needs to let inflation rise above 2%, Kashkari saysLow U.S. inflation expectations are sapping the Federal Reserve's ability t...
Baca lebih lajut »
With inflation elusive, two Fed policymakers lay out a welcome matWorried that current low inflation expectations will sap the U.S. central bank&...
Baca lebih lajut »
Trump's failed Fed pick Stephen Moore: If central bankers cut rates, it would be 'Moore's revenge'Moore, an advocate for easier monetary policy, says the Fed should not be worried about stronger economic growth causing out-of-control inflation.
Baca lebih lajut »
Fed speakers could steal focus from trade war in week aheadA flurry of Fed speakers and any new trade developments could shake up what normally might be a slow week of trading ahead of the three-day Memorial Day holiday weekend.
Baca lebih lajut »