More Americans Say They're Worse Off Financially Than Two Years Ago, Fed Data Shows

More Americans are feeling financially worse off than they were a year ago, with that share reaching its highest point in over two years, according to new data released Monday by the Federal Reserve Bank of New York.

The survey also found growing pessimism about the year ahead, with more respondents expecting their financial situations to deteriorate.

Despite the bleak outlook on household finances, the report showed modest improvement in how Americans view the labor market, their earnings prospects, and their ability to pay down debt.