31 October 2023
The financial strain on American households is intensifying, with 62% living paycheck to paycheck amidst relentless inflation and rising interest rates. Despite static income levels, the cost of necessities is forcing many to defer essential spending and deplete savings, with 49% reporting lower reserves than a year ago. Economic indicators suggest a grim outlook, with real earnings declining and the Federal Reserve signaling rates will remain high, exacerbating the financial distress for the majority already in a precarious position.