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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
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.