Is America’s economic system heading for a shopper crunch?

Nothing has been capable of cease American consumers. At first they splashed covid-19 financial savings on home-exercise bicycles; now they’re extra more likely to plump for beachside holidays. Predictions made by financial institution bosses final summer season that households can be squeezed by inflation have been confounded. As a substitute, their outlays have powered American GDP ever greater, at a tempo past the nation’s G7 friends.