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U.S. consumer spending climbs 8.2 percent in May amid recession risks
U.S. consumers boosted spending by 8.2 percent in May, partially retracing March and April declines caused by the pandemic. Personal income fell 4.2 percent as stimulus payments waned, with unemployment benefits and Fed policy cited as factors shaping the outlook amid rising infections and potential renewed closures.
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Commerce Department
Trump Administration
Congress
Federal Reserve
Jerome Powell
U.S
Gregory Dace
Oxford Economics
Fed
National Bureau of Economic Research
Association of Economists
United States
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Chase Bank