The Macro Brief: Inflation Eats The Consumer As Saving Rate Continues To Drop
Where Macro Meet Markets
This morning's personal spending print (MoM) came in at a blistering 2.1 percent but incomes dropped to the lowest monthly print since October.
The problem is, though, the laymen (or PhD economist) would see this as a sign of a strong consumer. However, the consumer is being eaten by higher consumer prices.
The personal savings rate has sunk from 8 percen…