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Boston Herald
Boston Herald
24 Mar 2023
Boston Herald Wire Services


NextImg:Debt, expenses stress lower income households: Poll

A new AP-NORC poll shows that personal finances are a major source of stress for about half of the lower income households in the U.S.. The results illustrate the toll of high inflation and economic uncertainty on those who can least afford it. About half of U.S. adults in households earning less than $60,000 annually and about 4 in 10 of those in households earning $60,000 to $100,000 say they’re stressed by their personal finances. That compares with only about a quarter of those in higher income households. About three-quarters of adults across income groups say their household expenses are higher now than they were a year ago.

Stocks shook off a weak start and ended higher on Wall Street even as worries about banks on both sides of the Atlantic continue to weigh on markets. The S&P 500 rose 0.6% Friday, marking its second straight weekly gain. The Dow Jones Industrial Average and the Nasdaq composite also rose. Treasury yields stabilized after an early drop. Markets have been turbulent recently on worries that banks are weakening under the pressure of much higher interest rates. That’s led to rising concerns about a recession and uncertainty about what central banks will do with interest rates going forward.