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MNI INTERVIEW: Inflation Worries Threaten U.S. Expansion–UMich

(MNI) Washington
(MNI)

“Generally when we see sentiment this low it’s during an economic contraction,” survey chief Hsu says.

U.S. consumer spending is likely to slow down substantially as surging inflation drives worries about things like personal finances to levels consistent with past recessions, University of Michigan survey chief Joanne Hsu told MNI.

“The other times we’ve been in situations like this it’s been in the middle of a recession,” said Hsu, also a former economist at the Federal Reserve’s board of governors.

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U.S. consumer spending is likely to slow down substantially as surging inflation drives worries about things like personal finances to levels consistent with past recessions, University of Michigan survey chief Joanne Hsu told MNI.

“The other times we’ve been in situations like this it’s been in the middle of a recession,” said Hsu, also a former economist at the Federal Reserve’s board of governors.

Keep reading...Show less