Citi CEO Fraser says low-income consumers have turned far more cautious with spending ...Middle East

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Citigroup CEO Jane Fraser spoke in an interview with CNBC on Monday, sounding alarm bells on the tenous situation low-income households now find themselves in in the US:seeing a “K-shaped consumer”means the affluent continue to spend, while lower-income Americans have become more cautious with their consumptionThe background to this is that US low-income households have exhausted their pandemic savingsface high and rising debt, and elevated interest charges on debtThe implications for the Fed are that a deterioration in the US labour market will have outsized impacts on such households and could move the economy closer to recession as belts are tightened further. Widespread job losses amongs

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Last updated : 07 May 2024 clock 01:48 AM

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Citi CEO Fraser says low-income consumers have turned far more cautious with spending ...Middle East

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