Kai Risdell

About 30% of buy now, pay later users are using those loans for groceries.

That certainly doesn't seem like a sign of the healthiest consumer.

He says just two years ago, buy now, pay later was more often used on discretionary items like handbags and gaming consoles.

Perhaps the biggest reason people are still spending, though, is the labor market, says Craig Rowley of Korn Ferry.

Rowley says that's a number to watch if you want to know where consumer spending could go in the future.

I'm Daniel Ackerman for Marketplace.

Justin told us about the dollar.

Dan told us about consumers.

Now, an industry that ties both of those pieces of this economy together, banks.

Laurie Stewart is the CEO and president of Sound Community Bank in Seattle, Washington.

Laurie, welcome back to the program.

Well, it's a pleasure and an honor to be with you.

Honor is ours.

How are things at Sound Community Bank?

Here's the easy first question.

Well, things that sound community bank are good.

You know, in this world we live in that has an awful lot of uncertainty, I would still say that our local bankers are doing well and we're collecting deposits and making loans and supporting our communities.

Can one assume then that if the banks are doing well, your clients are doing well?

Well, I think that's true, but increasingly clients are talking to me about concerns of sustained high gas and grocery prices.

And the thing we've also noticed, Kai, is that commercial borrowers who have approved loans are kind of sitting on their –