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Banking Turmoil Tests the American Consumer
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American consumers are facing another test, from banking-sector turmoil and tighter financial conditions, as households already grappling with elevated inflation and rising interest rates threaten to trim the spending that has been a hallmark of the resilient U.S. economy.
Unrest in the banking sector could make it more difficult for some consumers to obtain loans to buy homes, cars and other big-ticket items. Economists say much of the near-term impact could depend more on Americans’ psychology—whether they have confidence the economy will weather the banking storm that might or might not directly hit their pocketbooks.
Read more on wsj.comAbout this in other media
Banking Turmoil Tests the American Consumer wsj.com /1 year ago
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