Can the U.S. Economy Bounce Back Despite Consumer Spending Concerns?

U.S. consumers are pulling back on spending due to persistent inflation and growing concerns about the broader economic outlook, according to consumer financial services company Synchrony Financial (SYF) . Max Axler, the company’s chief credit officer, told Reuters thatpurchase volumes have declined across the industry as individuals, regardless of income level, become more selective about their spending habits.While consumers' finances remain generally stable, they are accumulating more debt, and delinquen ...