Despite inflation, Americans’ spending not slowing down

THE HILL-– Despite high inflation, rising gas prices, deepening concern about the economy and rising recession risks, Americans keep spending money.

Stocks have fallen sharply over the past week as Wall Street frets over a likely dip in consumer spending.

Polls of consumer sentiment have fallen steadily — along with President Biden’s approval rating on the economy — and a growing number of economists fear a recession could come as soon as next year.