The Bifurcation in the Economy and Consumer Spending

Josh Brown: It's tricky, because for every story I could tell you about working-class people being hurt by higher borrowing rates, I can then tell you the other side of the coin is wealthy people making more money than ever in their portfolios. The one year is now 18 basis points higher than where it was just prior to the Silicon Valley Bank debacle in March. So that's back at its pre-SVB high for the cycle. Now you look at employment. US employers added 209,000 jobs. We now have a situation where the working class is,. let's call it somewhat less disadvantaged than they had been Because wages are good, but we have prices around the economy moderating