Strong On the Surface, Strained Beneath: Weak Incomes, Credit Reliance, AI-Led Growth

Gregory Daco of EY-Parthenon warns that beneath the surface of a seemingly strong U.S. economy, declining real disposable income and eroding consumer spending power are forcing households to lean on savings and credit — with growth increasingly concentrated among AI investments and affluent consumers. He argues that inflation-adjusted data tells a more sobering story of slowing momentum, while the Fed stays cautious, counting on rising long-term rates to do much of its tightening work.======== Schwab Network ========Empowering every investor and trader, every market day.Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about