(New York, NY) — Almost two-thirds of workers are cutting back on their savings as inflation remains high and questions linger about a possible recession. A new study from Morgan Stanley finds 62-percent of employees have reduced their short- and long- term contributions to their savings. Close to a third of respondents also tightened contributions to their 401(k) plans. Just over one in four said they have cut back on paying down debts.
Bidenflation causing Americans to cut back on savings
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