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Even more from Kashkari: Excess savings have been spent down

  • Excess consumer savings have been spent down.
  • Lower credit score borrowers delinquencies are climbing.
  • On average consumers seem like they are doing fine.
  • Monetary policies role in bringing down inflation was probably mainly in anchoring inflation expectations, not on reducing demand.

This article was written by Greg Michalowski at www.forexlive.com.

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