Consumer Is Holding Up 9/21/26
Summary
CNBC’s Jessica Ettinger reports that despite high gas prices, US consumer spending remains resilient due to strong credit health and low unemployment. Bank CEOs from Wells Fargo, Bank of America, and JPMorgan confirm that delinquencies are improving and consumers are managing debt well. The episode highlights how wealth effects from the stock market and favorable existing mortgage rates continue to support economic growth, even as inflation persists.
Topics discussed
High gas prices and consumer spending resilience
Wells Fargo CEO on improving credit card delinquencies
Bank of America CEO on consumer borrowing and credit quality
JPMorgan CEO on low unemployment and mortgage rates
Stock market wealth effect and household stock ownership
Outlook for the economy in a potential downturn
Schwab and Ameritrade trading education promotion
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