New York Times: Covid, inflation and a loss of aid crimped American incomes in January.

New York Times: Covid, inflation and a loss of aid crimped American incomes in January.. “January was also the first month since mid-2021 in which parents did not receive payments under the expanded child tax credit, which expired at the end of last year. Income from government programs fell 1.3 percent last month. Yet despite the crimp in incomes, Americans continued to spend. Consumer spending rose 2.1 percent in January. Even after adjusting for inflation, spending was up 1.5 percent.”

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