From CNBC: 2024-05-06 15:22:40

Citigroup CEO Jane Fraser notes diverging consumer behavior as inflation hits Americans hard. Affluent spending grows while lower-income consumers tighten belts. Stock market awaits Fed’s interest rate decision with rising employment and persistent inflation complicating easing timeline. Fraser hopes for economic conditions to lower rates sooner for Americans burdened by debt.

Read more: Citigroup CEO Jane Fraser says low-income consumers are more cautious