AMERICANS ARE LOSING BUYING POWER.
The US economy is still growing, people are still spending, and unemployment remains relatively low.
But there's a problem:
Inflation has been rising faster than wages for four straight months.
That means people's paychecks aren't going as far as they used to.
Consumer sentiment has also fallen sharply, with the University of Michigan's survey showing levels worse than during the COVID period.
As economist Joanne Hsu put it, consumers are increasingly frustrated by the loss of purchasing power.