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Affluent Americans are driving US economy and likely delaying need for Fed rate cuts

Posted on AllSides April 29th, 2024
From The Left
AP Photo/Andrew Harnik, File

Since retiring two years ago, Joan Harris has upped her travel game.

Once or twice a year, she visits her two adult children in different states. She’s planning multiple other trips, including to a science fiction convention in Scotland and a Disney cruise soon after that, along with a trip next year to neolithic sites in Great Britain.

“I really have more money to spend now than when I was working,” said Harris, 64, an engineer who worked 29 years for the federal government and lives in Albuquerque, New Mexico....

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https://apnews.com/article/inflation-economy-wealth-rates-federal-reserve-cuts-9290216e89cbd7a3a0d2be66041aeaf8

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