The lack of fresh fiscal stimulus in 2023, combined with the IRS warning that tax refunds will be lower than 2022, means households expecting tax refund deposits will not receive the same cash to pay off accumulated Christmas credit card debt; rents will rise further before falling, and fixed living expenses are higher, while unemployment claims are up 31% off their May lows.
causalpending
Speaker
Danielle DiMartino BoothEvidence Quote
“The IRS has already started warning individuals that a lot of the the factors that amplified to 2022 income tax refunds for individuals are going to be going away this year...we have continuing claims up 31% off of their May lows.”
Source
DoubleLine Round Table Prime, 2023 - Part 1: Macroeconomic State of Play 1-4-23— DoubleLine CapitalCreated: 8/11/2026, 1:33:48 AM
My Notes
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