Fast Food Becomes a Luxury for the Working Class When the CEO of McDonald’s—one of the most cost-conscious brands in American consumer history—warns that lower-income Americans are skipping meals because of rising prices, it’s not just a throwaway soundbite. It’s a five-alarm fire. Chris Kempczinski’s comments this week on CNBC paint a grim picture: traffic among lower-income customers is down double digits. The same people who once found refuge in the Dollar Menu are now either skipping breakfast or eating at home out of necessity. McDonald’s response? A relaunch of its Extra Value Meals to try and lure them back with modest discounts. Let’s be crystal clear about what this signals. When a multinational fast-food chain is forced to redesign…
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