Consumer economy to be “A Tale of Two Halves”

(Chart: Bank of America)

The U.S. economy, though certainly aided by exorbitant fiscal stimulus, did prove one long-held truism — the American consumer is resilient, nearly impossible to break, and he or she will continue to spend almost regardless of the circumstances (even including the biggest quarterly drop in real GDP in 90 years since the Great Depression). Consumers drove the economy and the freight market throughout the back half of 2020, and for at least the first half of 2021, the...

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