Consumers Not as Flush: The Spending Slowdown

Richmond Fed President Thomas Barkin says the pandemic-era spending spree is over: Americans are no longer flush with cash. Despite low unemployment and rising wages, stimulus money is gone, leading to cautious budgeting and trade-offs. This pullback in consumer spending, a major economic driver, could signal slower growth ahead, making everyone watch shoppers' next move closely.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.