INSIGHTS Consumers Spending More Cautiously—But Not Stopping—as Fed Gets Even Tougher on Inflation By Staff Wednesday, October 5, 2022 1:48 PM “Consumers have become cautious—but they have not stopped spending. Growth is not as high as last year, but households continue to spend each month as more jobs, wage growth and savings backstop their finances and help them confront higher prices.”National Retail Federation chief economist Jack Kleinhenz shared views of consumer spending trends in this month’s NRF Economic Review titled “Consumers Spending More Cautiously—But Not Stopping—as Fed Gets Even Tougher on Inflation.”