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Report
Report on the Economic Well-Being of U.S. Households in 2014
As the economy of the United States continues to rebound from the Great Recession, the well-being of households and consumers provides important information about the scope and pace of the economic recovery. In order to monitor the financial and economic status of American consumers, the Federal Reserve Board began conducting the Survey of Household Economics and Decision making in 2013 and conducted the survey for a second time in October 2014. The findings from the October 2014 survey are covered in this report. Topics examined in the survey include the financial health of individuals on a ...
Discussion Paper
Does it Matter who your Parents are? Findings on Economic Mobility from the Survey of Household Economics and Decisionmaking
Coming out of the Great Recession, there are renewed concerns about the level of economic opportunity throughout the income distribution and the extent to which economic advancement is a realistic goal for all American families.
Working Paper
Earnings Business Cycles: The Covid Recession, Recovery, and Policy Response
Using a panel of tax data, we follow the earnings of individuals over business cycles. Compared to prior recessions, the Covid policy response and recovery were far more progressive. Among workers starting in the bottom quintile, median real earnings including fiscal relief increased 66 percent in 2020 and earnings increases offset relief decreases in the 2021 recovery. After the prior two recessions, this measure had decreased by 24 percent. Among those starting in the top quintile, median and average real earnings were approximately unchanged. This difference from prior recessions is ...
Discussion Paper
Improving Housing Payment Projections during the COVID-19 Pandemic
COVID-19 caused widespread job loss, raising concerns about whether people can still cover their rent or mortgage expenses. Policymakers and researchers are working to understand the effects of the pandemic on housing payments and predict future payment rates.
Report
Report on the Economic Well-Being of U.S. Households in 2013
Many households in the United States have been tested by the Great Recession. Large-scale financial strain at the household level ultimately fed into broader economic challenges for the country, and the completion of the national recovery will ultimately be, in part, a reflection of the well-being of households and consumers. Because households’ finances can change at a rapid pace and new opportunities and risks may emerge, such recovery can be complex to monitor. To better understand the financial state of U.S. households, the Federal Reserve Board conducted a new consumer survey, the ...
Working Paper
Are Central Cities Poor and Non-White?
For much of the 20th century, America's central cities were viewed as synonymous with economic and social hardship, often used as proxy for low-income communities of color. Since the 1990s, however, many metropolitan areas have seen a resurgence of interest in central city neighborhoods. Theoretical models of income sorting lead to ambiguous predictions about where households of different income levels will live within metropolitan areas. In this paper, we explore intra-city spatial patterns of income and race for U.S. metropolitan areas, focusing particularly on the locations of low-income ...
Report
Report on the Economic Well-Being of U.S. Households in 2015
In order to monitor the financial and economic status of American consumers, the Federal Reserve Board conducted the third annual Survey of Household Economics and Decisionmaking in October and November 2015. This survey provides insights into the well-being of households and consumers, and provides important information about how individuals and their families are faring in the economy. Topics examined in the survey include the overall well-being of individual consumers, income and savings behaviors, economic preparedness, access to banking and credit, housing decisions, car purchases and ...