Fed struggles to gain traction in battle with spend-happy consumers

Despite aggressive interest rate hikes by the Federal Reserve, consumer spending in the U.S. remains strong, as seen in the success of the new Caesars casino in Danville, Virginia, which has exceeded expectations with over $50 million in bets since May.

yahoo.com

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8/25/2023

Consumers are richer than they think they are, says Bank of America. They just need to stop comparing their savings to those during lockdown

US consumer spending is showing resilience and robust growth, although signs of a slowdown are emerging, potentially related to the public's perception of a deteriorating financial situation due to high inflation and rising interest rates, despite the fact that households still have higher deposits compared to pre-pandemic levels.

8/30/2023

An indicator of Americans' willingness to gamble could suggest continued resilience in the US economy

Record-breaking casino revenue in Nevada suggests that the US economy is on solid ground, as Americans flock to casinos and international travel resumes, providing a positive signal to investors.

8/31/2023

US consumer spending accelerates; monthly inflation rates cooling

US consumer spending increased by the most in six months in July, driven by strong demand for goods and services, but slowing inflation rates suggest that the Federal Reserve will keep interest rates unchanged next month.

8/31/2023

The Fed's preferred inflation measure stayed high in July — and consumers are continuing to spend

Consumer spending in the US jumped 0.8% in July, the strongest monthly gain since January, driven by purchases of restaurants, live shows, toys, games, and recreational equipment; however, underlying data suggests that this spending may be on borrowed time.