2021-10-29

REAL CONSUMER SPENDING

IN THE NAME OF ALLAH THE MOST GRACIOUS THE MOST MERCIFUL
This time is different! After 2008, real consumer spending in the US never made it back to its pre-crisis trend, due to insufficient policy stimulus. Not true now. Real consumer spending as of Q3 2021 is already back to its pre-COVID trend. There is NO output gap in the US.