The AAPI Data/AP-NORC survey is a series of monthly polls that delivers regular insights on crucial issues, ranging from policy priorities and lived experiences to political views and civic engagement.

Despite promising economic reports from the Federal Reserve, just 30% of Asian American, Native Hawaiian and Pacific Islander (AAPI) adults feel very confident about their ability to manage household expenses, according to a new AAPI Data/AP-NORC Center survey. The findings show that two-thirds of AAPI adults experienced an increase in household expenses in the past year, with 44% reporting a decrease in savings. Nearly a third held off on a major purchase due to higher interest rates, matching the share of all U.S adults (31%) who did the same. Further, 40% have little or no confidence they could pay for an unexpected medical bill, and 78% think Congress should tackle health care costs. 

A majority of AAPI adults disapprove of President Biden’s handling of inflation (67%), the economy (58%), and student debt (54%), though most approve of his approach to jobs (55%). 

Although a larger share believes the U.S. economy is at least somewhat good (35%) compared to all U.S. adults (30%), most still describe it as poor. AAPI adults are more positive about their household financial situation with 62% describing it as good and 38% as poor. Overall, AAPI communities are less pessimistic than the general public about the way things are going in the country overall (45% and 55%), the national economy (42% and 54%), and that their personal finances are unlikely to improve in the next year (20% and 25%).