Banks Say the Consumer Is Strong: What Does That Mean for Inflation?

Recent data from Bank of America (BAC 0.73%) and Citigroup (C -1.08%) show that consumer spending remains strong. Not only that, but consumers are saving money and still have account balances much higher than pre-pandemic levels.
Consumers have higher deposit balances, which could lead to "stickier" inflation or higher inflation for a while longer. Here's what you should know…

This story appeared on, 2023-01-25.
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