Middle-income Americans feel more optimistic about finance as inflation and recession worries ebb, a recent Santander survey said.
Although inflation is still a top concern, middle-income Americans said they've gotten used to higher prices and feel better equipped to handle their finances, according to a recent Santander survey. Additionally, worries about an economic recession have taken a backseat for many Americans as they begin to accept the high-interest rate environment as the new normal. The number of respondents who expected a recession in the next 12 months dropped from 69% to 60%.
Despite 74% of respondents saying they believe they are on the right path to financial prosperity, 60% are missing out on an opportunity to grow savings in a high-rate environment, with 56% still earning less than 3% interest, according to the survey. "At the same time, many continue to miss out on the opportunity to leverage the current rate environment to grow their savings," Wennes said.
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