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Pandemic relief has helped Americans. Yet there are signs of strain

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While household debt reached a record $17 trillion in the second quarter of 2021, many American households have felt less financial stress this year thanks to Covid-19-related government policies.

That’s according to the federal Financial Stability Oversight Council, which released its annual report for 2021 on Friday. The council was created by legislation following the financial crisis of 2008-2009.

The report found that while many households have been buoyed by more generous unemployment insurance payments and stimulus checks, some people are still facing financial distress, particularly if they work in sectors that were harder hit by the pandemic.

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Source cnbc.com

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