Fuel Costs, Interest Rates, and Student Debt Will Crush Consumer Spending

Consumers simply won’t have enough cash for consumer discretionaries.

Sarah Turner of West Maui fills containers with gasoline to power her emergency generators and help her neighbors who need fuel, on Aug. 16, 2023. Allan Stein/The Epoch Times

Commentary

The August U.S. inflation numbers that were released on Sept. 13 should concern consumers as headline inflation continues to inch upward, printing at 3.7 percent, exceeding expectations, and defying the efforts of the Federal Reserve to contain it. Core inflation, which excludes the cost of food and fuel, dropped slightly but still printed at 4.3 percent.