LINDSEY REISER:
00:01:14
Are we seeing this type of cutting back even among people who aren't necessarily struggling financially? Exactly. We're seeing this happen among consumers all over the income spectrum. People are making trade-offs. That's why consumer spending is still relatively strong, but people are saying that they're changing their behavior. They are. Both can be true at once. And it's true for me. My partner and I just bought a house. So we're spending a lot on house stuff, but we're not spending on going out to eat. We're not traveling. We're trying to walk and bike rather than drive. And my experience is replicated all over the economy.
LINDSEY REISER:
00:01:49
What else surprised you about your reporting? That the economy is nuanced, as is always the case. But I think it's really easy-- we got a pretty strong retail sales number for March, and my editor asked me, does that mean that our story isn't true anymore? And I said, no, our story is now even more true. Because when you look deeper at the retail sales, you see things like the fact that restaurant spending was, in fact, pretty weak. That's an example of a place where prices are up and consumers are cutting back.
LINDSEY REISER:
00:02:20
Well, congrats on the new House. Rachel Wolfe, thank you. Thanks so much.
