The point, though, is that, maybe, that is the difficult part from the point of view of the consumer. But from the point of view of the merchant, he has to do a lot more things if you pay cash. Indeed, what I remember when I was a graduate student, when I was paying rent, they refused to accept cash.
To confirm that expectation, it will be important to see a significant strengthening in growth in the second quarter after the apparent softness of the past two quarters. To support this growth narrative, I also expect the ongoing healing process in labor markets to continue, with strong job growth, further reductions in headline unemployment and other measures of slack, and increases in wage inflation.