Fed's Barkin: Consumer spending remains robust, but has become more cautious.

Jin10 reported on October 16 that Richmond Fed President Barkin stated on Thursday that consumers continue to spend, benefiting from low unemployment rates and wage rise, but their spending capacity is more constrained compared to the pandemic period. Barkin mentioned in his speech: “Although consumers are still spending, it is not 2022 anymore. Consumers are not as affluent as they were back then, and they are making trade-offs.”

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