MarketWatch (May 30)
“Rising gas prices and inflation are causing a majority of U.S. households to fall behind financially… and the longer the situation goes on, the more stress it will place on the economy.” According to Gregory Daco, chief economist at EY Parthenon, the U.S. expansion is supported by a fragile pillar formed by “Three A’s,” namely “Affluent consumers, AI investment and Asset appreciation.” This pillar “masks an important reality. A huge swath of middle-class and lower-income families with little or no savings in stocks have not benefited much from the bull market or the AI boom.”
Tags: Affluent consumers, AI boom, AI investment, Asset appreciation Savings, Bull market, Daco, Economist, Economy, Expansion, Fragile, Gas prices, Households, Inflation, Pillar, Stocks, Stress, Three A’s, U.S.
