Bidenflation causing Americans to cut back on savings

(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.