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Affluent Americans are driving US economy and likely delaying need for Fed rate cuts | News, Sports, Jobs

WASHINGTON (AP) Since retiring two years ago, Joan Harris has upped her travel game. Once or twice a year, she visits her two adult children in different s

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Wealthy Americans are driving U S economy and likely delaying need for Fed rate cuts

Wealthy Americans are driving U S economy and likely delaying need for Fed rate cuts
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10 Leisure and Recreation Services Stocks to Buy

During the market downturns of the last five years, the leisure and recreation industry bore the brunt of the damage.

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Affluent older Americans are driving economy and likely delaying need for Fed rate cuts

Affluent older Americans are driving economy and likely delaying need for Fed rate cuts
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Rich Americans spending is driving the U S economy—and likely leading the Fed to delay interest rate cuts

It's the so-called “wealth effect," whereby rising home and stock values give people confidence to increase their spending.

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