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There’s ‘More Distress’ in Low-Income Households, But Households ‘Generally’ in ‘Very Good’ Shape

In an interview with CNBC published Monday, Treasury Secretary Janet Yellen said that “some low-income consumers have probably exhausted their savings buffers.”[s] On top of what they’ve been accumulating during the pandemic, we’re seeing a trickle of suffering at the household level. However, despite this, “our economy is good and strong,” “very strong domestic demand” […]