“Bank of America CEO Brian Moynihan says consumer spending is 20% higher this year than 2019”

“Transaction volumes on customers’ credit and debit cards and over the Zelle payment network has grown by 20% so far this year compared to this point in 2019, Moynihan told CNBC’s Becky Quick Monday on CNBC’s “Squawk Box.” The comparison excludes 2020, an abnormal year in many respects because the onset of the pandemic led to widespread stay-at-home orders…”

https://www.cnbc.com/2021/06/14/credit-and-debit-card-spending-is-20percent-higher-this-year-than-2019-bank-of-america-ceo-brian-moynihan-says.html

There’s a labor shortage which is driving up prices. Of course spending is up. It won’t stay up if this problem is not solved.