Jakarta –
The United States (US) economy is said to be on the brink of recession. Quotes CNN, mentioned that many Americans who come from the middle class group began to have difficulty paying credit on time.
This was conveyed by credit card companies and wireless carriers this week.
On Thursday, credit card companies Discover (DFS) and Capital One (COF) recorded poor earnings performance. This causes the stock price to fall.
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Moreover, the number of bad debts seems to be increasing. The company began to increase reserves to anticipate future losses.
This indicates that the company is starting to worry about economic conditions in the future. Indeed, there are many factors that make companies must be vigilant.
For example, very high inflation, the increase in Federal Reserve interest rates aimed at controlling prices. However, this high interest rate is said to affect economic growth in Uncle Sam’s country.
Capital One CEO Richard Fairbank said that the high inflation and interest rates would pose a tough challenge for the community.
Especially if it is not balanced with an increase in wages or minimum income in the region. According to him, this high inflation will also make monthly credit bills continue to rise.
Not only at the bank, AT&T’s internet bills also increased. In fact, many customers find it difficult to pay monthly bills.
AT&T CEO John Stankey revealed that he was starting to see the trend of difficulty paying by his customers. “Many do not pay on time,” he explained.
(kil/eds)
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