2024-02-20 07:00:00 ET
Summary
- The resilience of the U.S. economy during 2023 owed much to low unemployment and excess savings built up through the pandemic.
- Excess savings may still be out there, but only among those on middle and higher incomes.
- Inflation in non-discretionary items, which the middle-income consumer is already better able to afford, may not be as sticky as the January data suggest.
By Shannon L. Saccocia, CFA
U.S. consumer sentiment has defied predictions of excess savings running dry, but do hotter inflation data pose a risk? ...
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Inflation And Consumer Sentiment