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Why Has Consumer Spending Remained So Resilient? Evidence from Credit Card Data

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By Dhiren Patki, Rees Hagler
| bostonfed.org
The views expressed herein are solely those of the authors and should not be reported as representing the views of the Federal Reserve Bank of Boston, the principals of the Board of Governors, or the Federal Reserve System. Despite elevated interest rates, rising uncertainty surrounding trade and fiscal policy, and declining consumer sentiment, consumer spending, which represents almost 70 percent of US GDP, has remained strong.
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