Low-income families, who received the greatest percent gains of all families in the US, have higher cash balances now than before the pandemic, according to a new report from JPMorgan Chase. However, the report found, it may not be enough.
“With each round of stimulus, low-income families saw the greatest percent gains in cash balances, but depleted those gains faster than high-income families,” authors Fiona Greig, Erica Deadman, and Tanya Sonthalia, wrote in the report.
The COVID-19…
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