Economists focus intensely on trends in consumer spending because it accounts for roughly 70% of the overall economy. Currently, the outlook is quite murky with a variety of crosscurrents. My April 14th blog, What am I Missing?, discussed the fact that consumer spending...
The healthy economy of recent years is largely attributable to strong consumer spending which has grown since the end of the pandemic by a total of 28.6%. That represents a 6.5% annual growth rate which compares with a 4.5% annual rate during the...
In response to an inflation rate that exceeded 9%, the Federal Reserve raised interest rates eleven times in 2022 and 2023 leading many investors (including us) to worry that higher rates would tip the economy over into a recession. Well, miraculously, 2024 will...
American credit card debt in the first quarter of 2023 was at a record level of $986 billion having exceeded the previous high of $927 billion which took place in the fourth quarter of 2019. One particularly interesting note is that debt was...
