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Al Jazeera
Al Jazeera
Alexander Kozul-Wright

EXPLAINED: In the us higher interest rates are forcing people to cut back | Vintage Vibes

Rising interest have made it increasingly difficult for Americans to check off major milestones like starting a business or buying a car or a home [File: Charles Krupa/AP Photo]

Between high interest rates and a soaring inflation, Amearah Elsamadicy, a law student and mother of two who lives in St Louis, Missouri, has been feeling the “strain”, she said. “It’s definitely led to disagreements at home.”

“Over the summer, my husband and I wanted to go to a wedding to introduce our new baby to relatives,” she said. “In the end, he travelled alone. We’re trying not to have debt hanging over us, so we’ve cut back on doing things together as a family.”

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