The Oracle of Wall Street says the pain of high gas prices is starting to hit high-income Americans

Meredith Whitney, known as the "Oracle of Wall Street," says the economic pain from high gas prices is starting to affect high-income Americans. She notes that even higher-income households are making spending choices due to the psychological effect of gas prices exceeding $4 per gallon. The inflationary impact of higher oil and gas prices, stemming from the Iran war, is becoming more widespread among US households. High-end bank customers appear to be tightening their wallets.

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