There may finally be proof of a recession, but only for the wealthy.
Sticky inflation, white-collar layoffs, and surging interest rates are all putting pressure on a certain type of American —"What we normally see in an economic recession is that lower- and moderate-income households really bear the brunt of it in terms of job losses and financial hardships," said Greg McBride, senior financial analyst at Bankrate.com. "We haven't seen that."sank more than 19%. The same year, 1.
Watch the video above to find out more about how the so-called "richcession" could affect the entire economy.
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