The Low- and Moderate- Income Population in Recession and Recovery: Results From A New Survey By Kelly D. Edmiston T he worst recession in U.S. postwar history, starting in late 2007, hit low- and moderate-income (LMI) individuals and families especially hard. Since the country’s anemic recovery began in mid-2009, the LMI population has continued to fare worse than higher-income groups. Significant numbers of formerly middle- and higher-income families have newly entered the ranks of the LMI population, and a growing number of those seeking public aid for food or housing are requesting it for the first time. It is not just that the LMI population has been hit harder than the population as a whole, but they have also faced unique, adverse conditions on several fronts. This article evaluates the economic circumstances of the LMI population over the course of the recession and recovery, making use of a specialized survey. A dearth of economic data available on the LMI population pres- ents a considerable problem for those who would like to analyze this group’s economic conditions. Data specific to the LMI population are sparse despite broad interest at the Federal Reserve, at numerous agen- cies of the federal government, among nonprofit organizations, and among the public at large. The most commonly published measures used to track U.S. macroeconomic conditions rarely, if ever, offer infor- mation specific to the LMI category. Kelly D. Edmiston is a senior economist at the Federal Reserve Bank of Kansas City. This article is on the bank’s website at www.KansasCityFed.org. 33