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submitted 5 months ago by yogthos@lemmy.ml to c/news@hexbear.net

The US economy is experiencing a "selective recession" where lower-income Americans are struggling due to rising costs and dwindling savings, while upper-income consumers remain unaffected. Inflation, although cooling down, has significantly impacted the purchasing power of lower and middle-income individuals. With the pandemic savings having been depleted for most Americans, recession fears are now growing as the job market weakens and interest rates remain high.

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[-] macabrett@lemmy.ml 3 points 5 months ago

Huh, wonder why the Biden campaign celebrating the economy isn't endearing people to him.

this post was submitted on 23 May 2024
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