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Home Depot, Lowe’s, Walmart and Target are expected to offer one of the clearest snapshots yet of how U.S. households are navigating an economy under strain.
Bank of America reports a 4.8% rise in household card spending in April, a three-year high.
KEY POINTS
- Lower- and middle-income consumers are cutting discretionary spending, while wealthy households maintain robust spending.
- The K-shaped economy divide has widened recently, driven by uneven spending and wealth effects.
- Kevin Warsh will be sworn in as Federal Reserve Chair Friday, facing stubborn inflation.
- Persistent inflation may force the Fed to keep interest rates higher for longer than anticipated.
COMPANIES
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