Auto parts and dollar store execs warn that low-income Americans are stretched thin and running on borrowed time
Retail sales held up surprisingly well over the summer in spite of concerns about a sharper slowdown.The picture is more complicated among lower-income shoppers, auto parts and dollar store execs say.These households could start to see signs of relief if the Fed moves to cut interest rates next week.As the summer comes to a close, it seems that most of the worst-case economic scenarios have been avoided.The relief was apparent during the most recent earnings cycle as retailers reported sales that held up surprisingly well in spite of concerns about a sharper slowdown.Share prices for Walmart and Costco continue to reach all-time highs as inflation-weary consumers flock to value-oriented retailers, and investors largely forgave home improvement suppliers for soft sales during the quarter.Given rising home values, strong employment figures, a booming stock market, and cooling inflation, US household finances appear […]
