Fed rate cuts unlikely thanks spending by rich Americans

Apr 29 2024 by Fast Company

As baby boomers have aged, they have accumulated more assets leading to more discretionary spending.

Since retiring two years ago, Joan Harris has upped her travel game.

Once or twice a year, she visits her two adult children in different states. She’s planning multiple other trips, including to a science fiction convention in Scotland and a Disney cruise soon after that, along with a trip next year to neolithic sites in Great Britain.

“I really have more money to spend now than when I...

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