Americans reported the highest level of financial well-being last fall than at any point in almost a decade, leaving them better-positioned to withstand an economic slowdown this year, according to a Federal Reserve survey released Monday.
The survey, conducted in October and November ahead of the Omicron wave of Covid-19, found that the strong economic recovery combined with government stimulus programs allowed households to enter 2022 in good shape. The U.S. this year faces economic headwinds with its highest inflation in four decades, rising interest rates, wobbly stock and financial markets and imbalances of supply and demand in goods and labor markets.