U.S. consumers still strapped despite rebounding shares, home prices

02/18/2013 | Wall Street Journal, The

Most of the $16 trillion lost by American consumers over the course of the economic downturn has been recovered, but mainly in the form of a rising stock market and a recovering housing market, Alan Krueger, chairman of the White House Council of Economic Advisers, said in an interview. With the pressing need to save for retirement and children's educations, U.S. consumer spending is likely to remain subdued, Krueger said.

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