Demand for US services likely to rebound- Cleveland Fed survey
Study says US consumers have become more optimistic, except older people
US consumers are becoming more likely to use services they avoided during the Covid-19 pandemic, a paper published by the Federal Reserve Bank of Cleveland finds.
The paper’s authors find that consumer sentiment varied during the pandemic and grew more optimistic in early 2021. However, the paper notes that “older Americans’ views on their post-pandemic plans are more pessimistic than are those of other groups”.
The paper, Expected post-pandemic consumption and scarred expectations from
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