People Have Less Money When You Stop Sending Them Checks, Data Confirms

People Have Less Money When You Stop Sending Them Checks, Data Confirms

Personal incomes fell 2.7% in August, according to data that is by now so stale that one struggles to see how it could move the needle when the pre-election news cycle is spinning as fast as it is. The market was looking for a 2.5% drop. Personal spending, meanwhile, rose 1% for the month, a touch better than the expected 0.8% rise, but still below July's pace, which was itself revised down. The BEA attributes the decline in incomes to the expiration of the extra federal unemployment supplemen
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