Consumers are keeping the economy afloat... for now | CNN Business

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. What’s happening: Americans appear to be indulging in a healthy dose of retail therapy despite stubbornly high inflation and the possibility of a recession ahead.

The combination of inflation and interest rate hikes will continue to pose challenges to confidence and economic growth into early 2023,” said Lynn Franco, the Conference Board’s senior director of economic indicators, in a statement. Economists take this to mean that spending can’t stay this strong for much longer. At some point, the pandemic-era savings levy will break, said Chris Rupkey, chief economist of FwdBonds LLC, in a note on Tuesday.

Is this a direct cause of the slowly decreasing inflation over the past few months? or what caused this continual decrease in home prices the last three months? LuiggiDonayre econ_ta EconUMD

First factors that interest rates and inflation have started to take effect due to the recession, as is already happening in the UK with the UK's housing🏠 market. costofliving

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