Economist Rupkey Sees Consumption as Key U.S. Economic Driver

The transcript discusses the current state of consumer sentiment and retail sales expectations, highlighting a soft patch in September and October but optimism for November and December. It examines nominal GDP and inflation, noting a challenging comparison due to last year's government shutdown. The conversation shifts to consumer data, with a focus on the Michigan Survey and job creation, suggesting consumption will drive the economy. Finally, it addresses unemployment claims and potential economic risks, considering what might prompt the Fed to adjust its policies.

What are the expectations for consumer spending in November and December based on historical data?

What would need to happen to unemployment claims to influence the Federal Reserve's decisions?