Seventy percent of Americans feel financially stressed in President Joe Biden’s America, a CNBC Your Money Financial Confidence survey revealed Tuesday.
Inflation, fueled by Biden’s war on American energy, was the main driver of their stress, as 60 percent of respondents pointed to Biden’s inflation as the main reason for financial stress.
On average, Biden’s 40-year-high inflation costs American households an extra $5,200 in 2022 or $433 per month, according to Bloomberg.
Thirty-six percent said increased interest rates caused them stress. The Federal Reserve continued to increase interest rates in March to tamp down inflation, a decision subject to speculation by financial experts, as the central bank weighed reducing soaring inflation and the stability of the banking system.
The interest rate hikes over the past year have negatively impacted banks, influencing public economic sentiment. Read more…
