The Fed's survey shows that inflation has eroded the financial security of American households

The Federal Reserve today reported an annual survey showing that inflation has eroded American households' sense of financial security, with many saying they cut back on savings to make ends meet, felt less secure about retirement, and delayed purchases or swapped them for cheaper products. In an annual survey showing the devastating effects of inflation on Americans' economic confidence, the Fed said the percentage of respondents who said they were "at least financially well" in 2022 fell by 5 percentage points, the highest since the survey was launched.

San Francisco Fed President Mary Daly said it was too early to say whether the US central bank would raise interest rates at its policy meeting scheduled for June 13-14, and Atlanta Fed Chair Raphael Bostick said he felt comfortable waiting. a little bit before deciding on any further steps.