joe: let's bring in reade pickert. ade, tell us about the health of household income and spending. reade: it tells us the consumer is really healthy for now. we saw personal spending increase more than forecast. a lot of that was driven by services. we saw pent-up demand we have been talking about for months. we announcing that in data, and seeing a rotation from spending on goods, to services. seeing where we go from here will be interesting. crisis -- prices are continuing to grow, we have supply constraints and now, we have the delta variant presenting a risk about whether consumers feel comfortable spending. because right now, spending is well above pre-pandemic levels, goods, but services spending has a ways to go. romaine: that seems to be were some concern is. we are all spending and services and that is good but there is concerned that pent-up demand will fade. it will come back down, do we revert more to normal pre-pandemic levels? or do we fall back down to somewhere where we were during the pandemic? reade: a

for more on that, we are joined by bloomberg's reade pickert. at do you make of the data we got today? reade: today's data reinforced what we saw and yesterday's gdp report, and that is that the consumer is really strong. so thanks to vaccinations and a broader reopening of the economy, consumers now have the confidence and the ability to spend money on things like services, like dining out. at the same time you're seeing this shift from goods to services, you are still seeing consumers dole out cash for goods as well. you are saw it -- you saw personal spending accelerate more than forecast, coming in at 1% in the month of june, and you also, keeping in mind the pickup you saw in terms of inflation, use our real personal spending also beat forecasts, coming in at 0.5% over the month. alix: thanks a lot. let's go to the wildcard delta variant, surging across the u.s. it has been likened to the chickenpox because it can spread so fast and cause more severe illness. in the meantime, president biden telling americans that a booster shot doesn't nece