American Consumer Seen Stretched With Two-Thirds Of COVID Savings Gone

If you're forecasting a material deceleration in US economic activity during Q4, you should stop. Not because you're wrong, but because, as I never tire of reminding readers, forecasting macroeconomic outcomes is everywhere and always a fool's errand. That's not to say you can't look smart every now and again. You can. Just ask Larry Summers, who (still) looks like a genius for warning on the risks of additional fiscal largesse just months before inflation took off in earnest across the develo

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