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September 01, 2020 10:18am
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Consumption and Saving: A Delicate Balance

Spending is out, saving is in. The trend not only has legs, it has depth and magnitude, as the personal income and spending report for November reminds. But at a time when prices are falling generally, the gap between spending in nominal terms (i.e., before adjusting for inflation) and real terms (after inflation) is growing. [...]
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