Half of Americans Feel the Pinch: Personal Finances Worsen Since 2020 Despite Inflation Easing A Yahoo Finance article revealed a significant decline in consumer confidence among American families earning under $100,000. Despite the inflation rate dropping to 3.4% in December 2023 from a peak of 7.2% in December 2021, high interest rates have escalated the cost of mortgages, credit card debt, car loans, and other expenses. The Federal Reserve’s aggressive rate hikes, peaking at 5.25-5.5%, have intensified financial burdens. Although average hourly earnings rose by 15% from December 2020 to December 2023, inflation outpaced wage growth, affecting the ability of many to afford necessities « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Geopolitical Tensions, Not Interest Rates, Now Seen as Main Risk to U.S. Economy READ MORE UBS: Silver Poised to “Dramatically” Outperform Gold This Year READ MORE Different Purities of Sovereign Gold Coins READ MORE Homeownership Hopelessness: Renters Doubt FuturePossibilities READ MORE Gundlach's Investment Strategy: Cash and Gold in a Volatile Market READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment
