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Business Insider: Americans are being pinched by rising prices and grueling debt - and the pain isn't going away soon, analyst says

August 2, 2023
Dollar Crash, Buy Gold

Article by Theron Mohamed in Business Insider

American households and businesses are being squeezed hard by inflation and steeper borrowing costs — and the pain is far from over, a veteran analyst has warned.

Consumers are spending a bigger chunk of their budgets on housing, healthcare, energy, and food, forcing them to cut back on discretionary purchases, Stephanie Pomboy told Fox Business on Friday. The upshot is that overall consumer spending has remained buoyant in recent months, but retail sales have barely budged, she said.

Meanwhile, businesses are suffering a ......

To read this article in Business Insider in its entirety, click here.

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