RIVER OF TEARS ALERT: Americans making $100k+ are most bummed about economy
Snarky headline aside, this is actually an important moment for consumer sentiment. Stocks had a rough start to the year, and inflation is the highest since 1982.
And 38 is the median age of Americans, so half the country wasn’t alive back then. If high earners — and everyone else — stays worried they spend less. Consumer spending is about two-thirds of economic growth, so if this happens for too long, it can cause recession.
Consumer Sentiment lowest since Oct 2011, and down 15 point drop from last Feb was fueled entirely by souring sentiments among households with incomes of at least $100,000
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Check It Out:
– Americans making over $100,000 are the most bummed out about the economy