A wild spending spree
Why Americans Won't Do The One Thing That Would Bring Down High Prices
People say the economy is bad and everything is too expensive, but they still spend a lot of money anyway.
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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.
