US Wages increased 5.2% over the last year while consumer prices (CPI) rose 8.5%. How are Americans still spending given this enormous gap?
— Charlie Bilello (@charliebilello) September 8, 2022
They're saving less (savings rate at lowest level since 2009) and borrowing more (consumer credit increasing at fastest pace since 2011). pic.twitter.com/FhY1GJS6Jv