Economic Strain: Signs of Recession in America

Despite Trumps claims of a golden age, the American economy is grappling with significant challenges. McDonalds reintroducing value meals, a sign of economic strain, is indicative of the struggles faced by middle and lower-income consumers. Chipotles CEO reports a significant cutback in spending among households earning less than $100,000. The job market is also under pressure, with over one million layoffs in the first ten months of the year, a sixty-five percent increase from the previous year. Consumer confidence has plummeted, with the University of Michigans index dropping to 50.3 in November. The Federal Reserve Governor warns of a possible recession, highlighting the concerning picture of the real economy amidst the AI booms wealth effect for the wealthy.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.