The latest from JPMorgan
JPMorgan is out with its latest data on card spending and there are some concerning trends. Overall spending is steady but 'card present' transactions -- which exclude ecommerce -- are turning lower.
The Fed's Mester highlighted a slowdown today and this is what she's talking about.
There are clear turns lower in gasoline spending, airlines spending and hotel occupancy.
There is also a drop in Apple driving directions, which some of the New York mobility data continues to hold up. However with talk of schools and restaurants there closing, those are likely on the way down.
