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Moody’s economist questions consumer resilience as savings fall and borrowing costs rise

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  • Mark Zandi challenged Wayne Best’s optimistic assessment of consumer resilience.
  • Mortgage rates remain well above 7%, while real wages are flat and savings are falling.
  • The S&P 500, Nasdaq Composite and Dow Jones were up 11.84%, 15.33% and 6.13% year-to-date.
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