Retail sales dominate, and there seems no reason abandon the hedonism of the US consumer. Lower income US households are more constrained, but middle income homeowners are living in a world of around 2% inflation (except in Florida) and have more spending firepower. The narrative has shifted. In 2022, consumers were spending the President Trump’s profligate unemployment payments and were relatively price insensitive. Today consumers are responding to evidence of price discounting.