Could this economic squeeze sway US voters?
Summary
An economist says that people in the U.S. with less money are being hurt by higher borrowing costs and lost buying power. This issue could become an important topic for voters in the upcoming midterm elections.Key Facts
- Americans with lower incomes are facing higher costs to borrow money.
- Their ability to buy goods and services has decreased.
- These economic struggles may affect people’s views as they vote in the midterm elections.
- Higher borrowing costs mean loans and credit are more expensive.
- Weaker purchasing power means money does not buy as much as before.
- The midterm elections are scheduled to happen soon and could reflect these concerns.
- Mihir Torsekar is a senior economist commenting on this issue.
- The report was shared on Al Jazeera’s program ‘This is America’.
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