WASHINGTON — The arrival of stimulus checks in May and June could not counteract the overall slowing effects of economic pressures on U.S. consumer spending, according to the Federal Reserve Board’s Beige Book report.
The tax rebate checks had little or no effect on most consumer goods, with almost all of the 12 districts tracked by the Fed reporting slowing or weak sales. The anecdotal report, released on Wednesday, said “consumer spending was sluggish or slowing in nearly all districts, although tax rebate checks boosted sales for some items.”
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"