Americans are snapping up small cars again, not because they want to, but because it's what they can afford.
Why it matters: Higher sticker prices, plus lofty borrowing rates, are making it harder for people to buy the new car of their dreams, so they often have to settle for a smaller vehicle or look for a bargain on a used car.
This time two years ago, seemingly every economist worth their salt was predicting a recession was imminent. They were wrong then. But that doesn't mean we're out of the woods now.
The big picture: There have been a series of subtle, but worrying, signs in economic data over the last several weeks that show cracks in what has been a robust post-pandemic expansion.
