The Fed will be relieved to discover that, as Stevenson & Wolfers officially find [2], across and within each country, "happiness" rises with higher incomes...
[3]
Interesting, Stevenson & Wolfers also find [2], a clear role for absolute income and a more limited role for relative income comparisons in determining happiness. So stop comparing yourselves to everyone else and be happy!!
h/t @MaxCRoser
