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Personal income and consumption

Summary:
Personal income, which includes gov transfer payments, is coming down in steps after spiking for the fiscal adjustments, and still remains a bit higher than it would have been as transfer payments wind down: Transfer payments are coming down, but remain elevated largely due to unemployment: Excluding transfer payments it’s still well short of where it was: Real consumption, supported by transfer payments, has come back but is leveling off below pre-covid levels:

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Personal income, which includes gov transfer payments, is coming down in steps after spiking for the fiscal adjustments, and still remains a bit higher than it would have been as transfer payments wind down:

Personal income and consumption
Transfer payments are coming down, but remain elevated largely due to unemployment:

Personal income and consumption

Excluding transfer payments it’s still well short of where it was:

Personal income and consumption
Real consumption, supported by transfer payments, has come back but is leveling off below pre-covid levels:

Personal income and consumption

WARREN MOSLER
Warren Mosler is an American economist and theorist, and one of the leading voices in the field of Modern Monetary Theory (MMT). Presently, Warren resides on St. Croix, in the US Virgin Islands, where he owns and operates Valance Co., Inc.

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