Consumers have been saying how fed up they are with inflation. But they keep on buying stuff, says Stephen Brown at Capital Economics. 

Common economic measurements, like GDP growth, tell us how fast the economic pie is growing. But they don’t tell us how the pie is getting distributed.

From 2019 to 2022, total U.S. household wealth grew 25%., but there’s lots of evidence that Americans are disenchanted with this economy.

The job market is still tilted in workers’ favor.

In its latest report on restaurants, Toast finds a shift toward restaurant spending in the mornings, away from lunch and dinner.

Raises in real earnings help offset price increases but not all consumers share the benefits equally.

The CBO data show purchasing power rising across all income groups, but the numbers reflect averages, and individuals’ experiences vary.

Consumers forecast inflation at 3.3% this time next year and are less confident that their earnings will rise as much as they had expected.

The stat, called labor share of national income, is being squeezed by globalization, declining union membership and automation.

Larry Fink, head of the largest money manager in the world, suggested in an investor letter that the retirement age should be higher because of longer life expectancies. But is that realistic?