Look at What They Say and Not as They Do

I t is important to look at what consumers are saying and not just a t what they are doing. C onsumer health is deteriorating at the same time that consumption is strong. Some might conflate current consumption with s olid consumer health and then think that economic risks are low . This is a mistake. P rice increases are forcing consumers to part with more money than they otherwise would , leading to a falling savings rate . This renders the US consumer highly susceptible to a shock .