A glitch in the consumer-driven recovery
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Consumer spending has been fairly resilient in the face of high inflation (see Taylor Swift, Beyoncé). But, the Federal Reserve’s interest rate hikes can pack a punch, and it’s showing up in Americans’ credit card bills. We’ll hear a bit of Macy’s quarterly earnings call and unpack what it tells us about consumer habits. And, AI is being used to give people their voices back. And, we’ll play a round of Name That Tune, economic anthem-style.

Here’s everything we talked about today:

• “Credit card delinquencies jump past pre-pandemic levels”) from Axios

• “Big retailers disappoint Wall Street as consumer spending shifts”) from Marketplace

• “A Stroke Stole Her Ability to Speak at 30. A.I. Is Helping to Restore It Years Later.”) from The New York Times

• “India lands a spacecraft softly on the moon’s surface”) from The Washington Post

• “The Trash We’ve Left on the Moon”) from The Atlantic

• “What’s next for India’s Chandrayaan-3 mission on the moon?”) from Space

• “The economic anthem of the moment depends on how you read the data”) from Marketplace

• “Marketplace: Your Economic Anthems”) on Spotify

Join us tomorrow for Economics on Tap. The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern. We’ll have news, drinks, a game and more.