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40% of low-income Americans lost their jobs in March and April, according to Fed

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Car line up at a drive-thru Three Square Food Bank emergency food distribution site at Boulder Station Hotel & Casino in response to an increase in demand amid the coronavirus pandemic on April 29, 2020 in Las Vegas, Nevada. Three Square is currently operating dozens of emergency distribution sites at various times and dates throughout Southern Nevada to assist a growing number of people, many recently unemployed. (Photo by David Becker / AFP) (Photo by DAVID BECKER/AFP via Getty Images)

DAVID BECKER

Nearly 40% of lower-income Americans lost work as the coronavirus pandemic began its assault on the U.S. economy, according to the Federal Reserve.

One in 5 adults who were working in February…



Source cnbc.com

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