Goldman Sachs CEO David Solomon states that US paycheck-to-paycheck consumers face reduced purchasing power compared to four years ago, impacting the lower economy.
Goldman Sachs CEO David Solomon said at the UBS Financial Services Conference that people living paycheck to paycheck in the US are cutting back even more due to less purchasing power than they had four years ago. Although the service economy remains strong, the average American feels strained by higher prices compared to pre-pandemic levels. Solomon added that the lower part of the economy is becoming softer.
February 27, 2024
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