Consumer Buying Mood Turning Sour
Another slide from last week's consumer report indicates consumers' buying mood is really sour.
When did we last see buying mood plummet like this? The late 1960s as inflation began to rise. Today, we see many similarities due to supply constraints. Remember the OPEC oil crisis? This was also a supply constraint that affected inflation and economic growth. So, unless we see the supply chain quickly sort itself out, expect inflation to remain higher than everyone wants. Oh, that also means the Fed will eventually have to do something about it.
Robert Lloyd, CFA®
Chief Investment Officer
Lloyds Intrepid Wealth Management
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