Higher credit card fees are making people shop less

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With the holiday season approaching, consumer habits have been a topic on many retailers’ minds. David French, NRF Senior Vice President of Government Relations joins Yahoo Finance’s Seana Smith and Brad Smith to assess how credit card fees and the general state of the economy will impact holiday spending. French says he still sees “signs of weaknesses” despite the average American household having savings to last them through the end of the year. With tighter credit conditions, French expects consumers to hold onto their money, predicting that consumers will cut back on discretionary spending— specifically for services. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

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