Core Viewpoint - The strong labor market, increase in real income, and robust private sector balance sheets are supporting consumer spending [1] Group 1 - The labor market remains strong, contributing positively to economic stability [1] - Real income has seen an increase, which enhances consumer purchasing power [1] - Private sector balance sheets are described as robust, indicating financial health and capacity for investment [1]

旧金山联储工作报告：关税上调将刺激美国制造业就业扩张，但这是以服务业和农业就业下降为代价 的，由于实际工资下降导致劳动力参与率下降，整体就业率下降。就美国整体而言，到2028年，实际收 入将下降约1%。 ...