Tom Croly’s Maui bed and breakfast once drew guests from around the world: Americans made up the majority, but there was a steady stream of Europeans and Canadians as well. Then the pandemic hit, leaving Dreams Come True on Maui empty for nine months. Even now, more than a year […]
Author: Cailley LaPara
5 Things to Watch in the March Personal Income Report
The Commerce Department will release its personal income and outlays report on Friday, which includes economic temperature checks like consumer spending and inflation. Analysts expect that consumer spending increased 0.6% in March, an uptick from the previous month, as demand remains high despite precipitous price increases. Increased consumer spending indicates […]
Economic recovery continues but shows signs of inflation struggles
Americans slowed their spending spree in February, a sign that consumers are beginning to react to the runup in inflation. Consumption rose by 0.2% in February, compared with a robust 2% uptick the previous month, the Commerce Department reported Thursday. Meanwhile, the Personal Consumption Expenditure index, the Federal Reserve’s preferred […]
Effects of Expired Child Tax Credit Reverberate for Families, Policymakers
When Alina McKnight’s middle daughter was experiencing a lack of motivation and mental health issues during the pandemic, her mother spent a little extra money on a new outfit. In that outfit, she aced an interview for a tutoring gig. “Those two hours after school as a tutor, she’s able […]
Spending Jump in January Signals Economic Optimism, Tempered by Inflation
Americans went on a spending spree in January despite a wave of Coronavirus cases, indicating strong economic recovery as the pandemic recedes. Spending on goods and services rose by 2.1% during the first month of 2022, the first uptick of that measure since October, the Commerce Department reported Friday. Consumer […]