Timothy Sumer

Wall Street investors remain braced for a recession. But a turndown hasn't yet materialized, due to strong demand from U.S. consumers. Spending makes up roughly 68% of the U.S. economy. It's remained strong amid high inflation as high-income Americans draw down generous savings accrued in the pandemic. Lower-income Americans who may have exhausted their pandemic savings are increasingly turning to credit cards to finance daily life. Chapters: 00:00 — Introduction 01:15 — Budgets 04:24 — Credit 06:13 — Split economy Produced by: Carlos Waters Supervising Producer: Lindsey Jacobson Graphics: Christina Locopo » Subscribe to CNBC:  » Subscribe to CNBC TV:  About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news:  Follow CNBC on LinkedIn:  Fol

The rise of remote work during the Covid-19 pandemic has now brought about the rise of the virtual layoff. Last November, Meta laid off 11,000 workers, and its CEO, Mark Zuckerberg, delivered the news over a remote video call. In April, McDonald’s temporarily shut down its corporate offices and fired hundreds of employees virtually. Meta declined to send a statement, but a company’s spokesperson noted that the company has multiple locations in the world and cannot do all layoffs in person. The practice is leading to a public debate over layoff etiquette — whether giving employees the bad news is more dignified than locking them out of their email accounts overnight. “McDonald’s is teaching a master class in layoffs,” Jessica Kriegel, chief scientist of workplace culture at Culture Partners, told CNBC’s “Squawk Box” in April. “If I were getting laid off, I’d want to be laid off at home, not at the office.” McDonald’s declined to comment. Critics of the remote layoff tren

The trillions in excess personal savings built up in the pandemic are beginning to vanish amid high inflation, according to Federal Reserve economists. The monthly saving rate fell to a 15-year low in 2022. It started a recovery in 2023, but remains well below long-term trends. Despite this slowdown in saving, consumer spending has remained robust, keeping the U.S. from recession. “Something like $2 [trillion] to $2.5 trillion above what we would have otherwise expected were saved by American households,” said Curt Long, chief economist at the National Association of Federally-Insured Credit Unions. Collectively, Americans have trillions in excess savings compared with expectations leading up to the pandemic, according to Federal Reserve economists. Watch the video above to learn about how the personal savings rate affects you and the wider economy. Chapters: 00:00 — Introduction 01:26 — Budgets 02:40 — The personal saving rate 05:33 — Recession? 07:48 — Ways of sav

Hi Everyone , Welcome Back To Another Video "The Right Way to Protect Yourself Against Inflation #shorts" Inflation is an economic reality that affects everyone, and it can have a significant impact on your financial wellbeing if you're not prepared. In this video, we'll be discussing the right way to protect yourself against inflation, with a focus on why saving too much cash may not be the best strategy. By the end of this video, you'll have a better understanding of the right way to protect yourself against inflation, and the risks of relying solely on saving cash. Whether you're a seasoned investor or just starting out, this video will provide valuable insights and practical tips to help you achieve your financial goals. People watching this video are searching for: • federal reserve and business news • financial news and inflation rate • cost of living and cost of living crisis • personal finance and consumer price index • raising interest r