week 9- Read the following article and summarize the following article in at least 300 words.

https://www.cnbc.com/2022/04/08/as-inflation-bites-higher-income-consumers-are-cutting-back-too.html

– What is inflation?

– What is causing the inflation?

-Why are high income earners just as worried about inflation as low income earners?

– In your opinion, is the concern from earners more of a cash flow concern or a net worth concern?

– What happens when the "Feds" raise the interest rates?

– When consumers stop spending, how will that affect the overall economy?