What personal financial stress can do to the economy
Financial stress. It feels personal, but it has big implications for the economy.
Americans are pretty stressed out. In the American Psychological Association's 2022 Stress in America Survey, respondents cited violence and crime, and the current political and racial climate as significant sources of stress. The biggest stressor of all, however, was economic: 83 percent of people said they were stressed out by inflation.
Which means that we're only going to be more stressed in the coming year. Why? Because we're almost certainly headed into a recession. The Conference Board, a non-profit business research group, puts the likelihood at in the next 12 months. The National Bureau of Economic Research's models say there's a . Bankrate's experts say there's a . puts it at . Clearly the numbers are all over
