Something strange is happening in the economy: Inflation is high — but Americans are spending like crazy. And that's threatening to put more upward pressure on inflation. Here are 3 things to know about the phenomenon.
Recruiters speak to job seekers at the Mega South Florida Job Fair held at the FLA Live arena in Sunrise, Florida, on Feb. 23, 2023. Employers added over 500,000 jobs in January, an unexpectedly strong showing for the labor market.Recruiters speak to job seekers at the Mega South Florida Job Fair held at the FLA Live arena in Sunrise, Florida, on Feb. 23, 2023. Employers added over 500,000 jobs in January, an unexpectedly strong showing for the labor market.
"People realized what they were missing during Covid," says Steve Hill, CEO of the Las Vegas Convention and Visitors Authority."I think it has driven a real energy around getting back to experiences. And we see, and I'm sure you do as well in the numbers, a shift from buying stuff to buying experiences."
"Customer are still spending money," McMillon told analysts this past week."It's obviously not as clear to us what the back half of the year looks like." "That's just what my gut is telling me as an operator," Mitchell says."A year ago [people] knew we had to raise our prices. It was obvious and they were accepting of that. But the consumer is starting to change. I think people want inflation to come down and they are not as tolerant any more of price increases."The Fed has been trying to get shoppers to slow their spending byEconomist Ian Shepherdson thinks the Fed's efforts are working.
Restaurant owner Cameron Mitchell stands in one of his establishments. Mitchell, who operates dozens of restaurants, says diners appear to be opting for less expensive outlets.The economic lines are particularly zig-zaggy at the moment. Some, like the strong job market, point to continued growth in spending. Others, like the rising number of overdue car loans, point to a looming slowdown.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
East Palestine train crash investigators hunt for truth, as theories flourishFrom some Republicans leveraging populist arguments and conspiracy theorists spreading misinformation on TikTok, there's finger-pointing all around.
Les mer »
Shiba Inu, Bonk Floki and Other Doggy-Themed Assets: What Keeps Them up All This Time?Crypto Market Review: While $FLOKI and $BONK are gaining some traction on the market, more 'serious' assets like $ETH are getting ready for corrections
Les mer »
Something Is Killing The Children Adapt Coming from Netflix, 1899 DuoNetflix and BaranboOdar & JantjeFriese (Dark, 1899) are adapting JamesTynion IV & WertherDellEdera's SomethingIsKillingTheChildren from BOOMStudios. / JamesTheFourth wertherscut boomstudios
Les mer »
Jim Jordan praises Biden's new asylum policy: 'God bless them for finally doing something'.Jim_Jordan had some rare praise for the Biden administration as it prepares to implement a stricter immigration policy to deter asylum-seekers at the border. “A small step in the right direction. God bless them for finally doing something worthwhile.'
Les mer »
Pac-12 mailbag: Partnership with Apple could give fans something to believe inJon Wilner's Pac-12 Hotline mailbag: The pros (mostly pros) and cons of partnering with Apple, a media-rights deadline (of sorts), the clear expansion frontrunners and more.
Les mer »
The Rundown: A little something for everyone this weekendAre you a sports fan, a foodie or a lover of arts? If you answered yes to any of those or whatever you may be, we have events that are just right for you.
Les mer »