Fed Rate Hike Comes as More Than One in Four Americans Say They Don't Feel in Control of Their Day-to-Day Finances, NerdWallet's Financial Resilience Index Finds
NerdWallet published its latest Financial Resilience Index, a monthly score out of 100 tracking how financially prepared Americans are for economic instability. The index was released just before the Federal Reserve raised interest rates for the first time since 2023, and found that more than one in four Americans say they don't feel in control of their day-to-day finances.
Why it matters — The index signals elevated consumer financial stress during a rising-rate environment, which could indicate lower demand for the consumer financial guidance NerdWallet provides.