Consumption was facilitated by rising wages, higher interest and dividend income, which more than offset a decline in government social benefits, including food stamps and Medicaid.

Spending was also supported by households drawing on savings as well as subsiding inflation. But amid rising anecdotal evidence of consumer distress because of higher borrowing costs, spending is likely to slow in the coming quarters. Government money to households is also expected to decline further.

I don’t understand why “bidenomics” isn’t more popular? Hasn’t the trickling down started yet?