- Retailers are saying there does not seem to be much 'trade down' among consumers to cheaper goods despite price increases
- Focusing on demand and whether it will show signs of weakening as the Fed raises rates
- Focused on breadth of inflation across a number of goods as an indicator of whether conditions are improving
These are good insights from Barkin. On housing, the US has underbuilt for more than a decade and even with 5% 30-year fixed mortgage rates.
