Talmon Smith on the Great Inflation Surge of 2021
Macro Musings with David Beckworth
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Is That a Good Number?
The money that was most likely to be spent has been spent by lower income levels, and the higher income folks are sitting on what's left of it. And they don't tend to spend as much out of that category? Yes. So i say that again, it's early evidence. But yes, as far as we know, just like before the pendemic, rich people have more money. Middle income people have some money, but have been strapped, and continue to be strapped.
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