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Consumer Cracks Emerge as Banks Say Everything Looks Fine

  • Trade tensions, weak data create ‘more fragile situation’
  • Survey finds 44% of consumers have expenses exceeding incomes
Vehicles sit on display in Los Angeles, California. 
Photographer: Patrick T. Fallon/Bloomberg

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Jamie Dimon has been quick to trumpet the strength of U.S. consumers. Federal Reserve chief Jay Powell calls them a bright spot that is countering weakness in the manufacturing sector.