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Fed's Goolsbee asked whether stock market is driving consumer spending
Original: Is the stock market propping up consumer spending? Fed's Austan Goolsbee weighs in
Austan Goolsbee, president of the Federal Reserve Bank of Chicago, addressed the question of whether the stock market is propping up consumer spending. The discussion, carried by Yahoo Finance, touches on the so-called wealth effect, where rising asset prices make households feel wealthier and more willing to spend. His remarks come amid ongoing debate about how resilient US consumer demand really is.
Why now: Investors and economists are debating whether consumer strength depends on elevated stock prices.
Austan GoolsbeeFederal Reserve Bank of ChicagoYahoo Finance
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