US Household Incomes Reach New High Amid Ongoing Inflation Struggles

WHO:

CBS News - The Census Bureau provided data on U.S. household incomes.

CNBC - Treasury Secretary Scott Bessent commented on the economic data during a House committee testimony.

WHAT:

ABC News - U.S. household income topped pre-pandemic levels for the first time last year.

CNBC - Real median household income rose by 2.6% to $87,460 last year.

CNBC - The poverty rate fell by nearly half a point to 10.2%.

CNBC - The poverty threshold for a family of four last year was $32,970.

CNBC - Prices increased by 3.4% in August from the year before, as measured by the consumer price index.

WHERE:

CNBC - The economic data was discussed during a House committee hearing.

WHEN:

CBS News - The Census Bureau data covers the year 2025.

CNBC - The Fed will announce its rate decision on Wednesday afternoon.

WHY:

CNBC - The underlying data suggest that an improving labor market helped boost household income.

CNBC - The decline in poverty appeared to be concentrated among families with children and working-age families.

HOW:

CNBC - The Congressional Budget Office projects that spending on food stamps, known as SNAP, will fall by $211 billion through 2035 due to the Republican tax-and-policy law enacted in the summer of 2025.

(UPDATED September 16, 2026 01:58 UTC)

The Census Bureau has reported that U.S. household income surpassed pre-pandemic levels for the first time last year, with real median household income rising by 2.6% to $87,460. During a House committee hearing, Treasury Secretary Scott Bessent highlighted that the poverty rate fell to 10.2%, a decline concentrated among families with children and working-age families. Additionally, the Congressional Budget Office anticipates a significant decrease in spending on food stamps, known as SNAP, projected to drop by $211 billion through 2035 due to recent tax and policy changes.