The data continues to pour in showing US consumers have indeed hit the wall. Spending is down according to a variety of sources, including the latest update on retail sales for May. There is also a growing body of evidence indicating there is more weakness to come starting with summer vacations. All this indicates the chances of full-blown recession are rising sharply.
Eurodollar University's Money & Macro Analysis
CNN Evidence is mounting that the American shopper is cutting back
https://edition.cnn.com/2024/06/18/economy/us-retail-sales-may/index.html
McKinsey & Company An update on US consumer sentiment: Are consumers on the cusp of a shift?
https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/the-state-of-the-us-consumer
Deloitte Summer Travel Survey 2024
https://www2.deloitte.com/content/dam/insights/articles/us187281_cic_summer-travel/DI_2024-summer-travel.pdf
Federal Reserve Beige Book May 29, 2024
https://www.federalreserve.gov/monetarypolicy/files/BeigeBook_20240529.pdf
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Jeff Snider will guide you through the realm of monetary science. Multiple episodes uploaded each week, discussing big news and key current events, the state of markets and what they are telling you, as well as historical summaries and deep background material so that you can understand what’s really going on in this eurodollar’s world.