• Seth Golden posted an update 2 weeks, 1 day ago

    Our model of consumer spending, which accounts for a broad set of fundamental economic and financial drivers of consumption, provides many reasons to expect solid consumption growth through 2020. The increase in stock prices should boost consumption via wealth effects, lower interest rates should boost demand for durable goods, and lower oil prices have provided a small boost to real income. Most importantly, we expect disposable income growth to remain solid as a further pickup in wage growth offsets a modest slowdown in job growth.

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