August 18, 2021
View the Webinar Presentation Deck
The latest federal data and analysis suggest that many households were struggling financially well before COVID-19. A recent report by the U.S. Government Accountability Office (GAO) found that older workers carried three times as much debt in 2016 as they did in 1989. GAO also has reported that the challenges women face during their working years can affect their lifetime earnings and retirement income. The Consumer Financial Protection Bureau (CFPB) reports that only half of workers could meet expenses for two months if they lost their primary income. For some households, the COVID pandemic has amplified financial challenges. Surveying more than 11,000 adults, the U.S. Federal Reserve reports nearly one-fourth of adults were worse off financially compared to 12 months earlier, and the gap in financial well-being between White adults and Black and Hispanic adults also grew during this time.
During this one-hour webinar, hear from federal experts who will share key findings from their recent research to give us a picture of the current financial health and resiliency of U.S. households and the potential impact on retirement security.
Moderator:
- Angela Antonelli, Research Professor and Executive Director, Center for Retirement Initiatives, Georgetown University’s McCourt School of Public Policy
Panelists:
- Ted Leslie, Senior Analyst, Education, Workforce and Income Security Issues, U.S. Government Accountability Office (GAO)
- Ellen Merry, Ph.D., Principal Economist, Consumer and Community Research, Board of Governors of the Federal Reserve System (FRB)
- Jeffrey Miller, Senior Analyst, Education, Workforce and Income Security Issues, U.S. Government Accountability Office (GAO)
- Hector Ortiz, Senior Policy Analyst, Office of Financial Protection for Older Americans, Consumer Financial Protection Bureau (CFPB)