“Headwinds are going to eventually force the consumer to buckle, and I think that we’re going to see consumers have to pull back on spending for a quarter or two.”

Erik Lundh, a principal economist at The Conference Board, predicting that consumer spending may soon be coming to an end as early as the holiday shopping season after two years of soaring prices and mounting interest rates could not stop Americans from opening their wallets and tapping their credit cards. Read the CNN article, “American Spending Has Kept the Economy Going Since the Pandemic. It May Finally Be Stopping, in Charts.”