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  1. Sep 2022
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    Poorly Understood: What America Gets Wrong About Poverty
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    1. chrisaldrich 30 Sep 2022
      Indicative of howclose many Americans are to poverty, a recent study by the Federal ReserveBank found that 37 percent of Americans do not have enough savings put asideto protect them from a $400 emergency.20
      1. Federal Reserve Bank, “Report on the Economic Well-Being of U.S. Households in 2019” (Washington DC: Board of Governors of the Federal Reserve System, 2020).
      emergencies economic insecurity unexpected expenses Federal Reserve Bank economic well-being savings resilience poverty
    2. chrisaldrich 30 Sep 2022
      Driving this home, a recent FederalReserve survey found that 37 percent of Americans cannot cover a $400 unexpectedexpense with savings or its equivalence.

      I've read this statistic many times, but where is the original source?

      It's here: Federal Reserve Bank, “Report on the Economic Well-Being of U.S. Households in 2019” (Washington DC: Board of Governors of the Federal Reserve System, 2020).

      This fact is repeated several times throughout the book. At least 3 by my count.

      secondary sources poverty unexpected expenses

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