1.31.24 How Much More Can Consumers Spend
Key Takeaways
• Firms expect demand for luxury goods to be stable in 2024.
• Overall, future buying plans for large-ticket items declined in January.
• The job market is key for both growth trajectory and Federal Reserve (Fed) policy this year.
• So far, businesses and households have not felt much pain, eerily predicted by Fed Chairman Jerome Powell.
Who Holds the Keys?
Just like the job market holds the keys for future Fed policy, it seems the luxury consumer will be key for future consumer spending. According to the CEO of Saks, the demand for l
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