Lower-income Americans can't afford McDonald's. What does it mean for the economy?
The dollar (menu) doesn’t go as far as it used to. Foot traffic from lower-income customers is down by nearly double digits, McDonald’s leadership said while announcing third-quarter earnings in early November. That makes the fast-food giant just the latest in a string of value-priced companies seeing lower-income Americans struggle to afford their products. Lower-income consumers are facing “pressures,” CEO Chris Kempczinski told analysts. “You're seeing across the country, rents are at pretty high lev ...