Federal Reserve Chair Jerome Powell speaks at the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institute on Wednesday, Nov. 30, 2022, in Washington.
The price of groceries, meanwhile, may not have fallen much but at least appear to have peaked, according to Armando Perez, executive vice-president of H-E-B, who offered his assessment at a recent gathering of the Greater Houston Partnership. For many other large purchases, Americans are still borrowing money. In October, consumer spending on durable goods such as appliances, furniture and cars, 2.1 percent, as overall consumer spending rose 0.8 percent.The explanation may be that inflation shapes our purchasing behavior as well as slashing our purchasing power.
Hello, Mr. Powell? It’s not working, please stop. Hello? Hello?
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