Nyt needs a paywall to tell you water makes you wet.

This is the best summary I could come up with:

The latest evidence will come on Wednesday when the Labor Department releases data showing whether inflation cooled in April, or remained uncomfortably hot for a fourth straight month.

Consumers have continued spending on travel, restaurant meals and entertainment thanks to rising wages and debt levels that, despite their recent increase, remain manageable as a share of income for most people.

Barbara L. Martinez, a financial counselor in Chicago who works at Heartland Alliance, a nonprofit group, said that for many of her low-income clients, debt is inescapable, especially since food prices and rents have soared.

The divergence puts Fed officials in an uncomfortable position: Free spending by wealthy households means high interest rates have done little to curb consumer demand.

But Fed officials argue it is essential to bring inflation under control, in part because it, too, has a bigger impact on the poor, who have little room in their budgets to accommodate higher prices.

And while high interest rates have affected many families, they have not so far caused the widespread job losses that many progressive critics predicted and that have historically been hardest on lower-wage workers.

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