Marketplace Hey, big spender!
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Sep 17, 2025 Samantha Fields, a Marketplace reporter specializing in housing and mortgage markets, sheds light on today's housing landscape. She discusses the surge in refinancing as mortgage rates drop, revealing how many homeowners are seizing the opportunity. Additionally, she highlights the stark economic divide, with the top earners driving nearly half of consumer spending. The impact of tariffs on small businesses like Etsy sellers, and the challenges they face, also takes center stage, painting a vivid picture of an evolving economy.
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Fed Shift Toward Labor Risks
- The Fed cut rates to shift focus from inflation toward labor-market risks as consumer spending stays strong.
- Powell warned the Fed faces two-sided risks and no risk-free path forward.
Spending Hinges On Top Earners
- The top 10% of earners accounted for nearly half of U.S. spending in Q2, the highest share since 1989.
- That concentration makes the economy vulnerable if wealthy consumers become cautious or assets retrace.
Jewelry Seller Threatened By Tariffs
- Kelly Abernethy built a full-time jewelry business on Etsy after personal loss and sources rose gold from China.
- A 30% tariff on Chinese imports threatens the signature product that launched her shop.