Deteriorating household finances will not-support strong spending – Brookings

• The extraordinary wealth that households accumulated in 2020 and 2021 has dissipated.
• Households face a financial choice: slow down their spending or become more indebted.
• An examination of household finances for different demographics (age, race and ethnicity, and income) shows that the deterioration in finances has been faster for nonwhite and lower income households.

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