Americans are still in a pandemic hangover, trying to make up for all that time lost when restaurants were closed for in-person dining and travel was halted.
Although personal spending rose 1.8% in January, according to the Commerce Department, NPR reports that business owners are unsure how long it can last.
With spending continuing at this pace, the Fed could raise interest rates to cool down prices. Conversely, a drop in consumer spending could raise concerns about a recession.
Read more about where Americans are getting all this discretionary money, how long the spending spree can last, and the likelihood of rising interest rates.
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