Surveys show: More than 50% of American consumers are unable to cope with a $2000 emergency expense.

According to a report by Jinse Finance, data from a platform indicates that the latest survey by The Federal Reserve (FED) shows that 52% of American consumers cannot cover an emergency expense of $2,000 solely through savings, and 31% cannot even afford an unexpected expense of $500. In 2024, a record 37% of respondents indicated that Inflation and prices are their main financial challenges, up from 35% in 2023, 33% in 2022, and 8% in 2016.