Reported 2 days ago
American consumers are increasingly feeling financial pressure due to high inflation and interest rates, leading to rising debt and defaults. Many are struggling with their finances, particularly student loan borrowers as pandemic-related relief ends. As costs rise, more individuals are turning to 'Buy Now, Pay Later' plans even for essentials like groceries, indicating a tight budget situation. Consumer sentiment has plummeted amid fears of a potential recession, despite some signs of income growth that may offer a buffer against ongoing economic challenges.
Source: YAHOO