[mid]

Spin. From the actual survey data at https://www.federalreserve.gov/consumerscommunities/files/SH..., page 6:

Overall, which one of the following best describes how well you are managing financially these days?

    14  (0.1%): Refused
   893  (7.2%): Finding it difficult to get by
 2,395 (19.2%): Just getting by
 4,930 (39.6%): Doing okay
 4,215 (33.9%): Living comfortably

[oldcynic]

How is it spin? Just means there are a lot of people who believe doing OK encompasses having less than $400 ready cash.

I might call it blind optimism seeing as pg 21 of the same PDF shows the sources they would consider to fund an emergency expense, but not spin.

[babaganoosh89]

Are you sure that's right? I don't get how that adds up to 40%.

[veidr]

If 40% of people can't find $400 in a pinch, then it means at least some of those people self-reporting as "Doing OK" still can't find $400 in an emergency.