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U.S. Families’ Experiences of the COVID-19 Pandemic: Evidence from the Survey of Consumer Finances

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Abstract

Between 2019 and 2022, the COVID-19 pandemic caused severe disruptions to the U.S. labor market and broader economic activity, leading to unprecedented levels of fiscal support. Nonetheless, over this period, net changes in major economic indicators were consistent with a robust economy, and according to the 2022 Survey of Consumer Finances (SCF), U.S. families experienced broad-based improvements in their finances, particularly with respect to net worth (Aladangady et al., 2023).

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  • Jesse Bricker & Sarena Goodman & Alice Henriques Volz & Kevin B. Moore & Sarah Reber & Richard Windle, 2023. "U.S. Families’ Experiences of the COVID-19 Pandemic: Evidence from the Survey of Consumer Finances," FEDS Notes 2023-10-18-1, Board of Governors of the Federal Reserve System (U.S.).
  • Handle: RePEc:fip:fedgfn:2023-10-18-1
    DOI: 10.17016/2380-7172.3406
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    File URL: https://www.federalreserve.gov//econres/notes/feds-notes/u-s-families-experiences-of-the-covid-19-pandemic-evidence-from-the-survey-of-consumer-finances-20231018.html
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