Reported 12 months ago
Richmond Federal Reserve Bank president Thomas Barkin stated that U.S. consumer demand remains strong, but households are starting to be more price-conscious. Real-time indicators like credit card spending show stability without excessive growth. Non-consumer housing and interest-sensitive sectors exhibit weaknesses, while customers are gravitating towards lower-priced options and private-label products in light of rising prices. Business contacts also note steady demand, with consumers being more selective and cost-conscious when making purchases.
Source: YAHOO