Affluent Americans are driving US economy and likely delaying need for Fed rate cuts
- Older Americans, like Harris, are driving economic growth in the U.S. Due to gains in the stock and housing markets, leading to increased consumer spending.
- Their spending on services like travel and healthcare is raising prices and inflation, unaffected by Federal Reserve rates.
- The "wealth effect" from rising home and stock values is boosting spending and countering predictions of an economic slowdown.
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Leaning Left8Leaning Right3Center11Last Updated21 days agoBias Distribution50% Center
