The Great Squeeze
“The Great Squeeze” is on — prices are soaring on everything from groceries to gasoline. And buying a home just got even more expensive: The fixed 30-year mortgage rate topped 5% for the first time in years. This has all put the squeeze on American families. Many are thinking about where they can cut back spending to ride it out. And, 81% of U.S. adults are worried that skyrocketing inflation could lead to a recession this year, according to a new CNBC + Acorns survey conducted by Momentiv.