Consumer economy is weak and getting weaker due to high rates, says Jim Cramer
10:58
MSNCNBC
Consumer economy is weak and getting weaker due to high rates, says Jim Cramer
CNBC's Jim Cramer discusses the day's market action after stocks closed lower for a third day in a row.
4 months ago
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The U.S. economy is still doing well as Americans continue to spend
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Consumer economy on edge: half of spending comes from richest 10%
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When asked why Americans have a low sentiment of the economy, but consumer spending is up, Bank of America CEO Brian Moynihan says “it’ll take a little while” for inflation to subsist, after several years of uneven recovery following the pandemic in 2020. “It's this question of affordability and prices and trying to figure out how that – because we had a very strange process from ’20 through now. We had COVID lockdown, then we had all the stimulus, and we had high inflation, and then we had wage
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When asked why Americans have a low sentiment of the economy, but consumer spending is up, Bank of America CEO Brian Moynihan says “it’ll take a little while” for inflation to subsist, after several years of uneven recovery following the pandemic in 2020. “It's this question of affordability and prices and trying to figure out how that – because we had a very strange process from ’20 through now. We had COVID lockdown, then we had all the stimulus, and we had high inflation, and then we had wage
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Consumer economy on edge: half of spending comes from richest 10%
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How much effect will the shutdown have on the consumer economy?
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When asked why Americans have a low sentiment of the economy, but consumer spending is up, Bank of America CEO Brian Moynihan says “it’ll take a little while” for inflation to subsist, after several years of uneven recovery following the pandemic in 2020. “It's this question of affordability and prices and trying to figure out how that – because we had a very strange process from ’20 through now. We had COVID lockdown, then we had all the stimulus, and we had high inflation, and then we had wage
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The U.S. economy grew at a much greater-than-expected pace in the third quarter, boosted by strong consumer spending, a delayed report released Tuesday showed. U.S. GDP, a sum of all goods and services produced in the sprawling U.S. economy, expanded by 4.3% in the July-September period, the Commerce Department said in its initial reading of third-quarter growth. CNBC's Rick Santelli breaks down the numbers. Read more: cnb.cx/4scydh7 | CNBC
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