Americans May Keep Spending In 2024

By now, you know the bear case for consumer spending in the US. Anyone with even a passing interest in markets can recite some version from memory. Pandemic savings buffers are surely exhausted for lower- and middle-income households, student loan payments are set to resume, credit card rates are the highest on record and the Americans most likely to be impacted are those with the highest marginal propensity to consume. At the same time, the labor market is normalizing, which means job losses