McGough: Student Loan Debt Spells Trouble for Retail

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The U.S. Retail sector is poised to go from bad to worse this summer. When student loan payments resume this summer, struggling U.S. consumers will have even more reason to cut back on their discretionary spending.

“You have a lot of households where the husband and the wife are both carrying student debt,” explains Brian McGough in this clip from The Macro Show. “Ultimately, you get a 1.7% rate of consumer spending hit, which is going to be very, very damaging.”