Report: One-third of Americans can’t raise $2K if emergency strikes

3/28/2017

NEW YORK — Instead of positing online retail dominance and the effect of millennials on brick-and-mortar sales, the New York Post posited a new theory regarding why Americans are seemingly not spending at retail locations: they don’t have the money.


According to the news outlet, A Federal Reserve Bank of New York report revealed one-third of Americans stated they could not come up with $2,000 in the next 30 days should the need arise.


“No matter how you look at it, the average American is tapped out,” the Post wrote.


The newspaper did not one silver lining that there has been an uptick in the number of Americans who do believe they can raise the cash since the election.


The report also revealed the percentage of people in the study who indicated that they would likely apply for a minimum of one type of credit over the next 12 months fell from 27.8 percent in October to 26 percent, the lowest level on record in the study.


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