Consumer confidence in economy dips slightly over worries inflation will outpace wage gains
More buying power and more demand are both signs of growing prosperity
By Dan Calabrese —— Bio and Archives--May 29, 2018
American Politics, News | Comments | Back To Full Article
Context is key here. Late last year, consumer confidence hit a record high of 101.4 in the aftermath of Trump’s election and the expectation of the tax cut/reform that ultimately happened. Since then, we’ve seen record low unemployment and wage increases – which you’d expect in a tight labor market when employers are dying to find qualified people to fill open jobs.
Usually when things are growing like this, some economists start fretting about the economy “overheating” and inflation being the result, and the media tend to run to the economists who are engaged in said fretting.Welcome to CFP’s Comment Section!
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