Despite an “unsettling” economic situation in the US, consumer spending has not slowed, according to a report this week from the National Retail Federation (NRF).

It’s now a wonder what would curtail consumers, as high inflation, rising interest rates and fears of a recession seem to have done little other than have Americans rely on wage growth and savings to “backstop their finances and help them confront higher prices,” NRF chief economist Jack Kleinhenz said in prepared remarks. “Many economists say a recession – if there is one – will likely be mild.”

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Paul Bergeron



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