"Parents with Young Kids Face Financial Strain Amid Rising Inflation"

A Federal Reserve survey reveals a significant decline in financial well-being among parents with young children, dropping from 69% in 2022 to 64% in 2023, the lowest since 2015. The expiration of pandemic-era financial supports, such as the expanded child tax credit and increased funding for child care centers, has contributed to this decline. Rising child care costs and inflation are major concerns, with fewer parents able to handle emergency expenses and more experiencing food insufficiency. Overall, financial well-being for most Americans slightly worsened in 2023.