Resilient Economy 'Feels Very Untrue' to Some Americans
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Christine Maddy, a mother of five from rural Minnesota, struggles to make ends meet despite a combined income of $175,000 as a registered nurse and a union crane operator; she raises chickens to offset food costs; President Biden claimed on August 14, 2024, that the U.S. has beaten inflation, which Maddy disagrees with, stating it feels out of touch; inflation peaked at 9.1% in 2022; average S&P 500 CEO earnings were $17.7 million in 2023, 268 times that of median workers; inflation rate dropped to 2.9% in July 2024; credit card debt reached $1.14 trillion in Q2 2024; Tyler Azure, a mother of ten, spends $600 weekly on groceries and feels financially strained; 32.5% of high earners express concern about finances; Federal Reserve Chair Jerome Powell hinted at potential interest rate cuts in September 2024.
#Economy #Inflation #Biden #MiddleClass #CreditCardDebt #FoodPrices #Housing #JobMarket #FinancialStrain #ConsumerBehavior
https://www.newsweek.com/2024/09/13/joe-biden-us-economy-inflation-interest-rates-1944349.html
Newsweek /
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2024-08-28 09:47:50
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2024-08-28 09:47:50Event JSON
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"content": "Resilient Economy 'Feels Very Untrue' to Some Americans\n==========\n\nChristine Maddy, a mother of five from rural Minnesota, struggles to make ends meet despite a combined income of $175,000 as a registered nurse and a union crane operator; she raises chickens to offset food costs; President Biden claimed on August 14, 2024, that the U.S. has beaten inflation, which Maddy disagrees with, stating it feels out of touch; inflation peaked at 9.1% in 2022; average S\u0026P 500 CEO earnings were $17.7 million in 2023, 268 times that of median workers; inflation rate dropped to 2.9% in July 2024; credit card debt reached $1.14 trillion in Q2 2024; Tyler Azure, a mother of ten, spends $600 weekly on groceries and feels financially strained; 32.5% of high earners express concern about finances; Federal Reserve Chair Jerome Powell hinted at potential interest rate cuts in September 2024.\n\n#Economy #Inflation #Biden #MiddleClass #CreditCardDebt #FoodPrices #Housing #JobMarket #FinancialStrain #ConsumerBehavior\n\nhttps://www.newsweek.com/2024/09/13/joe-biden-us-economy-inflation-interest-rates-1944349.html",
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