Wealthy Americans' Spending Habits Continue to Drive US Economy Despite Inflation Concerns on Nostr: Affluent Americans Driving the US Economy in 2024 =============== #3041f0f3 ver:0.35 ...
Affluent Americans Driving the US Economy in 2024
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#3041f0f3 ver:0.35
Affluent Americans are driving the US economy in 2024, with wealth gains in stocks, fixed income, home prices, and crypto contributing to growth. However, weakening sales at retailers catering to the upper middle class indicate potential weakness in the economy. Wealthy Americans are scaling back spending, potentially signaling the end of the post-COVID boom. Factors like inflation and rising interest rates are causing them to tighten their wallets. Monitoring consumer behavior during the holiday season will be crucial to gauge the severity of this trend. Older, wealthier Americans are fueling the economy, accounting for a larger share of consumer spending. However, the gains in wealth are not universal, with the wealthiest owning two-thirds of all household wealth. The Fed is likely to keep rates unchanged due to the unexpected strength of the economy fueled by affluent Americans. High net worth seniors, like Joan Harris, are making a notable impact on the US economy through investments and increased spending. #US #economy #affluentAmericans #wealthgains #consumerbehavior #inflation #interestrates #seniors...
#newstr #UsEconomy #AffluentAmericans #GovernmentBonds #MiddleClass #WealthGains #StockMarket #CommoditiesMarket
https://here.news/story/3041f0f3?ver=0.35
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#3041f0f3 ver:0.35
Affluent Americans are driving the US economy in 2024, with wealth gains in stocks, fixed income, home prices, and crypto contributing to growth. However, weakening sales at retailers catering to the upper middle class indicate potential weakness in the economy. Wealthy Americans are scaling back spending, potentially signaling the end of the post-COVID boom. Factors like inflation and rising interest rates are causing them to tighten their wallets. Monitoring consumer behavior during the holiday season will be crucial to gauge the severity of this trend. Older, wealthier Americans are fueling the economy, accounting for a larger share of consumer spending. However, the gains in wealth are not universal, with the wealthiest owning two-thirds of all household wealth. The Fed is likely to keep rates unchanged due to the unexpected strength of the economy fueled by affluent Americans. High net worth seniors, like Joan Harris, are making a notable impact on the US economy through investments and increased spending. #US #economy #affluentAmericans #wealthgains #consumerbehavior #inflation #interestrates #seniors...
#newstr #UsEconomy #AffluentAmericans #GovernmentBonds #MiddleClass #WealthGains #StockMarket #CommoditiesMarket
https://here.news/story/3041f0f3?ver=0.35