Americans splurged this year on everything from travel to Taylor Swift concerts, part of a YOLO mentality that helped buttress the U.S. economy despite expectations that it would sputter.
Swifties’ summer splurge on the Eras Tour helped fill hotels and pack restaurants and bars, a trend that appeared to boost local economies and earned the moniker Taylornomics (read more about that here). The Fed took notice, too.
So far, the spending has stayed strong—and so has the economy. One reason: The job market is still robust. Fresh data Tuesday showed that job openings rose in August from July.
