How inflation's wrath, recession fears are (quickly) creeping into middle-class America

1 min read


Inflation, recession fears are creeping into middle-class America

  • Lower-income groups were the first to get hit hard by surging inflation and recession fears.
  • Now, 40-year high inflation and rising recession odds are growing concerns for the middle class too.
  • Many of them are cutting back spending and trading down, even frequenting dollar stores.

When anesthesiologist June Lee’s friend asked if she wanted to go to a baseball game earlier this summer, she paused.

The seats were considered “cheap seats,” but they were still $100 per ticket (she needed four for her family), plus the cost of any food, beer and transportation. Weighed against the soaring prices of everything, a double-digit decline in her 401(K) balances and potential recession, she said thanks. But no thanks. 

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