Consumers Spending hasn’t hit trends like this since before Lehman imploded
This is despite fears from Wall Street pundits that cash in the system is waning as money doled out for the two-year pandemic stimulus dries up.
Consumers’ appetite to keep buying may bolster the Federal Reserve’s resolve to maintain its aggressive monetary tightening campaign.
After the lockdown’s lurch downward, American retail sales are back roughly where they might have been expected to be by now when Lehman fell.
The pandemic stimulus went into people’s wallets, and even though money supply growth has actually been negative over the last 12 months, much of it still hasn’t been spent
John Authers Bloomberg 16 februari 2023
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