Inflation erodes U.S. households' financial security: Fed report

LONDON, May 23 (Xinhua) -- Consistently high inflation has eroded the U.S. households' sense of financial security, showed a newly published Federal Reserve (Fed) report on economic well-being of households in 2022.

Many respondents noted "they had reduced their savings to make ends meet, felt less secure about retirement, and had delayed purchases or swapped into cheaper products as they shopped," Reuters said when reporting about the Fed document on Monday.