⚠US consumers' finances are getting worse

The share of Americans that would be able to cover $2,000 emergency expense is falling

Only 63% of Americans would be able to come up with $2,000 to cover an emergency expense, the lowest share in over 10 years, according to the New York Fed survey.

The share has been falling over the last 5 years. Historically low savings, skyrocketing debt, weakening labor market, and still rising prices have been behind this trend.

More analysis about the shape of the US consumer can be found below:

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