Despite a seemingly healthy economy, low-income spenders show the strain

NEW YORK — Cracks are showing in one of the main pillars keeping the economy out of a recession: resilient spending by U.S. households. Consumer goods giants from PepsiCo to Kraft Heinz have described recently how the combination of high inflation and higher interest rates was hurting their lower-income customers. It’s the culmination of everything getting more expensive amid high inflation, even if it’s not as bad as before, and the drag of higher interest rates because of more expensive credit cards and other payments. Remarkably resilient spending by U.S. consumers overall has been one of the main reasons the […]…

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