‘Running out of money’: Kraft, McDonald’s, Whirlpool CEOs all flag same concern over US consumers — protect your wealth

As inflation, high borrowing costs and rising grocery bills strain household budgets, top corporate leaders are warning that American consumers may be reaching a breaking point. Kraft Heinz CEO Steve Cahillane declared that lower-income consumers are running out of money at the end of the month, as the company sees negative cash flows from consumers dipping into savings.

In response, Kraft Heinz is cutting prices on some products, increasing promotions and offering smaller package sizes at lower price points. McDonald's CEO Chris Kempczinski reported heightened anxiety among consumers, while Whirlpool CEO Marc Bitzer noted a sharp decline in demand for big-ticket appliances. North America executive president Juan Carlos Puente said the industry is experiencing recession-level contractions, with discretionary demand down roughly 15%.

The Federal Reserve's latest Report on the Economic Well-Being of U.S. Households reveals that 16% of adults didn't pay all their bills in full during the previous month, and 42% of those who struggled with bills paid at least one late. Household budgets are under strain, with credit card balances at $1.25 trillion and auto loan balances at $1.69 trillion in the first quarter of 2026.

The personal saving rate fell to 2.7% in June, and the cost-of-living crisis is hitting consumers with lower financial breathing room particularly hard. Even though headline inflation has cooled, the impact of rising food, housing, and energy prices still hurts the least financially secure households.