Stephanie Pomboy.John Lamparski/Getty Images Higher prices and interest rates are pressuring consumers and companies, Stephanie Pomboy says. Disposable incomes are shrinking, and businesses face cost pressures, the Macro Mavens chief says. Robert Heller, a former Fed governor, sees a recession hitting late this year or in early 2024. 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.
Americans Are Being Pinched By Rising Prices And Grueling Debt - And The Pain Isn't Going Away Soon, Analyst Says
tmohamed@insider.com (Theron Mohamed), Business Insider
Tue, 08/01/2023 - 2:10am
Topics: john lamparski/getty images higher disposable american s&p wall street nothing i march nobel prize-winning paul krugman the federal reserve business insider pomboy stephanie macro mavens robert heller fed fox business federal reserve prices debt pain analyst spending rates interest year companies businesses costs recession inflation warned pressure told governor surged early consumer economy growth foot corporate economic credit
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