Consumers Got Whacked by Inflation, High Interest Rates, Layoff News, Asset Prices Falling from Lofty Peaks… And They’re Still Not Slowing Down

Consumer spending, adjusted for inflation and adjusted for seasonal factors ticked down by 0.3% in February, after a huge spike in January that had followed drops in December and November, and a big jump in October, according to data by the Bureau of Economic Analysis today.

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