Income down, But Spending up? What gives.

Brian Shactman and Jill Schlesinger discussed the current economic climate, noting the S&P's 0.1% decline and oil prices at $96 per barrel. They highlighted the impact of rising gas prices, with a truck costing $86 to fill up. Despite consumer sentiment being worse than during the Great Recession and early 1980s inflation, retail sales are up. Jill attributed this to home equity and asset value increases. However, she warned of rising credit card, student loan, and auto loan delinquencies. The Federal Reserve's upcoming meeting and GDP data were also discussed, with expectations of a GDP acceleration in Q1.