This chart from today's Early Look by Drago Malesevic shows Bank of America Institute’s Consumer Checkpoint report for February, which confirms increased spending for households with incomes above $600K versus the moderating growth observed across all other income cohorts.
Recessionary deficit spending proves stimulative for higher-income households as a multi-vector wealth effect is reinforced by interest income, equity price gains, a revival in home appreciation notwithstanding affordability constraints, and the surge in digital assets.
HELPFUL LINKS:
Recap | Free All Access Week 2/26-3/1
Join New Subscriber Orientation
New Conference: Hedgeye Live 2024 May 2-5
