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What's driving higher consumer spending: confidence or rising costs?
A commentator disputes Kevin Hassett's reported confidence explanation, arguing higher prices are driving spending and financial strain is driving borrowing.
TLDR
A commentator says Kevin Hassett sees lower saving and higher spending as signs of a strong U.S. economy driven by high consumer confidence. The commentator disputes that view, claiming confidence is at a record low and arguing that consumers spend more because things cost more and borrow because they're broke.
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