Many people might feel disgusted when they spot the price of a box of butter, a bag of salad or, frankly, just about anything else at the supermarket. But generally, many can keep spending, especially if they've gotten a raise at work or they're fortunate enough to have some cash sitting on the sidelines.
Yet make no mistake, plenty of people are on edge as they see inflation soar, jobs get cut at some major companies and some homes for sale sit a bit longer on the market than they did just months ago.
Much like an executive from Grand Rapids-based office furniture maker Steelcase expressed in an earnings call in September, everyone senses "dark clouds on the horizon related to the economy." Steelcase eliminated 180 salaried jobs this fall.
The clouds — and a crush of bitter cold air in mid-October — do make one wonder if just throwing on a coat and tugging up the collar will be enough to stay comfortable.
As the Federal Reserve pushes interest rates higher and higher, it seems to many as if a recession is inevitable — if one isn't already here. Higher interest rates weigh on economic growth. Construction on new homes in the U.S., for example, fell 8% in September from August.