In This Story HD TJX M TGT COST BJ LOW WMT The demise of the American shopper has been overblown. New quarterly earnings reports and other data show that consumers are still spending . They’re just doing it a lot more cautiously — and with a preference for big-box retailers. Inflation is cooling , to the point that the Federal Reserve is widely expected to cut interest rates next month. High mortgage rates , driven by the Fed keeping overall rates higher for longer, continue to deter spending

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