Part 4/9:
The rising interest rate environment complicates matters for households. Home Depot's CFO has indicated a grim acceptance among consumers that elevated rates may be the new norm, challenging the notion that economic growth is around the corner. Key indicators such as declining average weekly hours for workers and increasing credit card debt illustrate the stress American families are under. As take-home pays begin to fall due to reduced hours worked, disposable income diminishes, compounding the challenge for consumers.