US consumer spending resilience is driven by Baby Boomer wealth

8 articles · Updated · yardeniquicktakes.com · May 6

In a webcast, Ed and Elias said retirees are drawing down large nest eggs despite weak income growth, supporting consumption and pushing the US saving rate lower.
They argued consumer spending remains the main engine of US GDP growth and highlighted three additional tailwinds supporting a continued strong outlook for household demand.
The main risk they identified was a prolonged spell of triple-digit oil prices, which could undermine consumers and test the broader resilience of the US economy.

With oil prices soaring from the Mideast war, is America's consumer-driven economy headed for a stagflationary shock?

With Boomer wealth and youth debt fueling the economy, how long can this generational balancing act last?

As wealth inequality deepens into an 'E-shaped' economy, is the American middle class facing a permanent decline?