items Americans are increasingly reluctant to buy.The U.S. economy is showing signs of resilience despite the pandemic-induced slowdown. Retail sales rose in April for the first time in three months, led by an increase in auto sales. Steady demand for new cars and trucks has spurred automakers to ramp up production. Consumers are also spending on services such as travel, recreation and dining out.
The labor market is also strong, with the unemployment rate at an extremely low 3.4%. Workers are reaping bigger pay increases to help them cope with higher prices, but rapidly rising wages are also adding to high inflation.
The Federal Reserve has indicated that it has not seen enough evidence to support a freeze in interest rates for the rest of the year. However, many Wall Street economists think a recession is inevitable by the end of the year.
Overall, the U.S. economy is showing signs of resilience, but there are still risks that could lead to a recession. The Federal Reserve will need to carefully monitor the situation and make sure that any policy decisions are made with the best interests of the economy in mind.This week, Disney+ and Hulu will be removing dozens of shows from their streaming services. This includes shows such as “The Proud Family”, “Kim Possible”, and “Lizzie McGuire”. The move is part of Disney’s plan to make room for new content.rnrnMeanwhile, President Biden has said he likely has the authority to use the 14th Amendment to raise the debt ceiling, but it may be too late. The amendment states that the validity of the public debt of the United States shall not be questioned.rnrnOne man recently found himself in a difficult situation when he wanted to buy a $40,000 car, but his wife said no. He then decided to take a different approach and asked his wife to buy the car for him as a birthday present. Surprisingly, she agreed.rnrnFinally, borrowers are preparing for the resumption of student-debt payments. Many are taking steps to ensure they can make their payments on time, such as setting up automatic payments and budgeting for their payments.