Read previewWhile Wall Street cheers the country's economic momentum, outlooks among most Americans appear more gloomy, an Affirm survey reported.
The payments company found that three in five Americans think the US is currently in a recession.
Seven out of 10 Americans see today's inflation rate as a burden on their financial futures, limiting their ability to save and plan ahead.
For its part, Wall Street has remained optimistic about the economy's trajectory, given that inflation has progressively come down from its pandemic highs.
Although spending kept up enough to stall an official recession, Americans have gradually pulled back their buying.
Persons:
—, Vishal Kapoor
Organizations:
Service, Business, Product, Northwestern Mutual, Federal Reserve, of America
Locations:
U.S, Affirm's