Stimmies Spark Record Surge In Personal Incomes In March, Spending Spikes

After February’s MoM collapse in income (no stimmies) and drop in spending, analysts expected March’s income and spending data to rebound massively as more government handouts reached the hungry American consumer. Analysts were right as personal income exploded by a record 21.1% MoM (vs 20.3% exp) and personal spending soared 4.2% MoM…

Source: Bloomberg

Totally normal…

Source: Bloomberg

Spending is up 11.0% YoY (and incomes up 4.6% YoY)…

Source: Bloomberg

What the f**k are we going to do when the stimmies stop and we, the people become accountable for our own actions and lives once again? (Rhetorical question, of course).

Finally we note that The Fed’s favorite inflation indicator – the PCE Deflator – rose 2.3% YoY, the highest since July 2018…

But of course, that’s “transitory“.