Axios
We have done plenty of hand-wringing here about the various risks to the economy. In particular, a recession could arrive, or inflation could reignite. But that was decisively not what was happening in July.Why it matters: New data on incomes, consumer spending and inflation in mid-summer point to an economy in happy balance.Americans made more money…
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Spending, incomes and inflation were all heading the right direction in July
Neil Irwin
12:31
We have done plenty of hand-wringing here about the various risks to the economy. In particular, a recession could arrive, or inflation could reignite. But that was decisively not what was happening in July.Why it matters: New data on incomes, consumer spending and inflation in mid-summer point to an economy in happy balance.Americans made more
