Americans are being pinched by rising prices and grueling debt - and the pain isn't going away soon, analyst says
on Friday. The upshot is that overall consumer spending has remained buoyant in recent months, but retail sales have barely budged, she said.
"Expect rates to dampen economic activity and to create real stress in the credit markets, corporate credit market especially," Pomboy said. "Nothing I look at suggests that," Pomboy said. She pointed to the pressure on consumer spending, the limited supply of labor, and striking workers raising companies' costs by driving up wages and securing settlements. the bursting of an"everything bubble" could tank stocks by 30% and cause a 2008-style economic collapse.
"The Federal Reserve is really slowing down the economy, it has its foot on the brakes," Robert Heller, a former Fed governor,However, the central bank's tighter monetary policy has been offset by vast amounts of government expenditure, the retired banker and economics professor noted.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Record heat waves illuminate plight of poorest Americans who suffer without air conditioningAs climate change fans hotter and longer heat waves, breaking record temperatures and leaving dozens dead, the poorest Americans suffer the hottest days with the fewest defenses
Read more »
Record heat waves illuminate plight of poorest Americans who suffer without air conditioningAs Denver neared triple-digit temperatures, Ben Gallegos sat shirtless on his porch swatting flies off his legs and spritzing himself with a misting fan to try to get through the heat. Gallegos, like many in the nation’s poorest neighborhoods, doesn’t have air conditioning.
Read more »
US mother, daughter, reported kidnapped in Haiti; Americans warned not to travel thereA woman from New Hampshire who works for a nonprofit organization in Haiti and her young daughter have been reported as kidnapped.
Read more »
US mother, daughter, reported kidnapped in Haiti; Americans warned not to travel thereA woman from New Hampshire who works for a nonprofit organization in Haiti and her young daughter have been reported as kidnapped.
Read more »
US mother, daughter, reported kidnapped in Haiti; Americans warned not to travel thereA woman from New Hampshire who works for a nonprofit organization in Haiti and her young daughter have been reported as kidnapped.
Read more »
US mother, daughter, reported kidnapped in Haiti; Americans warned not to travel thereA woman from New Hampshire who works for a nonprofit organization in Haiti and her young daughter have been reported as kidnapped.
Read more »