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Thursday, December 26, 2024 | 11:42 AM ISTEN Hindi

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Wall Street says a recession is coming. Consumers say it's already here

Layered on top of the inflation squeeze are the mounting concerns about the outlook for economic growth, not just this year, but into 2023

Quite simply, people’s money is disappearing fast, and they’re worried it could get a lot worse. (Bloomberg)
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Quite simply, people’s money is disappearing fast, and they’re worried it could get a lot worse. (Bloomberg)

Bloomberg | Philip Aldrick, Enda Curran and Michael Sasso
The recession calls are getting louder on Wall Street, but for many of the households and businesses who make up the world economy the downturn is already here.

Take Gina Palmer, who runs She Salon on Atlanta’s busy Northside Drive west of downtown. She’d ordinarily expect her business to be alive with the din of customers on a Friday morning. But on that day late last month, it was largely empty and quiet, save for a few employees. With summer break moving into full swing, her clientele is preoccupied with affording summer camps for their kids amid soaring food and

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