"Wealthier consumers, boosted by strong gains in income, home equity and stock market wealth, have increasingly driven spending. This marks a significant shift from the pre-pandemic period."
"Lower-income consumers have been disproportionately squeezed by higher-priced rents and necessities, leaving them less able to spend on discretionary items, unlike before the pandemic."
"Despite high borrowing costs from the Fed's rate hikes, inflation-adjusted consumer spending rose significantly, indicating resilience in parts of the economy."
"The disparities in spending habits between wealthier and lower-income consumers help explain the gap between gloomy consumer sentiment and a healthy U.S. economy."
Collection
[
|
...
]