Middle-Class Americans Struggle as Fed Battles Inflation
Middle-class Americans are increasingly concerned about the state of the U.S. economy, with fears stemming from the Federal Reserve's aggressive interest rate hike campaign. A new survey found that 57% of middle-class Americans believe higher interest rates are negatively impacting their household finances. The Fed's higher-for-longer policy stance means that rates are unlikely to fall substantially, leading to higher interest debt for many Americans. While inflation has declined from its peak, it remains above the Fed's target.