Economics’ Jonathan Ernest says families are spending more on necessities despite shrinking savings

Consumer confidence falls to its lowest level in 12 years, survey shows

NPR, Marketplace: Jonathan Ernest, assistant professor of economics at the Weatherhead School of Management, said resilient consumer spending masks financial strain, as households reduce savings to cover rising necessities. He noted that families are spending more on essentials like gas and groceries because they have to, not because they can.