Personal finances versus the national economy: the 2023 Fed SHED
Compare two assessments in one survey while keeping their questions and scope distinct.
Updated Oct 31, 2026
Two different questions
In the Federal Reserve’s 2023 SHED, 72% of adults described their finances as doing okay or living comfortably; 22% rated the national economy good or excellent. The report says the survey was fielded in 2023-10 and reflects conditions then or experiences over the preceding 12 months.
A gap is not a contradiction
The questions concern different objects and use different response categories. Their gap does not prove economic statistics wrong or quantify a decline in purchasing power. Use the comparison to ask who was asked what, and when.
Timing and causality limits
These subjective 2023 responses do not directly measure conditions in the 2026 video. The two shares cannot identify the roles of prices, media or political views, and do not replace GDP or measured household purchasing power.