According to the New York Fed’s Survey of Households, it was revealed that household spending growth expectations took a big nosedive as of April 30, 2017.
But before you start saying “Trump’s fault,” bear in mind that the expectation of household spending growth has been slowing since December 2014 (see orange line). The decline merely accelerated in the latest survey.
But if we look closely at the data, the decline was biggest for the 75th percentile. But the 25th percentile actually saw NEGATIVE growth in household spending expectations. FRBNY-SCE-Data
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Negative growth for the 25th percentile??? Not surprising since the GINI Index of Income Inequality has continued to rise under Obama and The Fed’s economic management.
Damnit Donald! Jerry!
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