A wild spending spree
Why Americans Won't Do The One Thing That Would Bring Down High Prices
The Lede
Inflation has made a lot of things infuriatingly expensive, and consumer confidence isn't great. The economy is good on paper, but in the real world, a lot of people feel like they're trapped in place. Yet many of those same people continue to spend their way through it. In short, America has become a nation of hate spenders.
Key Details
- Retail sales came in higher than expected in March, up 0.7% month over month to $709.6 billion. February's numbers were revised up, too.
- That leaves the question: Why are we willing to spend through the pain? According to experts, the surge in hate spending can be attributed to various factors.
- People's finances are in a good spot, so they can absorb the increased costs. The labor market is strong, and wage growth has been outpacing inflation for months. Some cracks have begun to emerge.