
Americans Refuse To Stop Spending As Inflation Rises In Worrying Data
Friday's top-tier data release out of the US suggested the Fed has more work to do.
Americans spent
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Inflationary psychology in the consumer sector is difficult to overcome. Buy it now before the price goes up.
barring a debt crisis “resolution” selloff, a hawkish June rate hike seems likely imho…
The American consumer… Basically, un-killable.
As I said, the one problem is then to try and garner pity for “folks who don’t have $400 in savings”… Generally speaking, I am in the “economics isn’t a morality tale” camp, though I recognize that morality drives a lot of people thinking about economic policy so optics matter. But, here, even I go “at some point, you’re supposed to grow up and be a mature adult, capable of controlling yourself. Don’t come crying when the money runs out”.
Ah, the old fable about the ant and the grasshopper.