Axios, August 11, 2020: Death spiral for consumers
Why it matters: As Congress deadlocks over pandemic relief and President Trump issues executive orders of dubious potency, many Americans are suffering from a quintuple whammy: unemployment, overdue rent, mounting bills, food insecurity and health fears. …
Families are suffering the most. “What we see with households with children is that they’re more likely to experience a job loss by somebody in the household, and they’re more likely to experience a decline in overall income,” Wilbert van der Klaauw of the Federal Reserve Bank of New York, tells Axios.
