One reason inflation has held its grip on the U.S. economy is that American consumers continue to spend, seemingly undeterred by the price increases, which has in fact helped to fuel them. But how much longer will all that spending last?
has held its grip on the U.S. economy is that American consumers continue to spend, seemingly undeterred by the price increases, which has in fact helped to fuel them. But how much longer will all that spending last?
Some companies reporting record revenues in the most recent quarter include Apple, Airbnb, the Ohio entertainment venue Cedar Point, General Motors and Samsung. "Despite the pandemic, holiday sales have grown at a historic pace for the 2020 and 2021 holiday seasons," the economists wrote. "This year, with pandemic fears now largely in the rearview mirror, consumers are looking forward to a more typical holiday shopping season."
The likely downturn will be moderate, he said, most closely resembling the dot-com bubble burst in 2000 than the great financial crisis of 2008, or the dramatic pandemic drop-off in the spring of 2020.
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