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  • Writer's pictureBy The Financial District

U.S. Consumer Spending To Cool Further

After a remarkable summer of robust consumer spending and financial market resilience, the US economy is widely expected to slow in the coming months as the Federal Reserve continues its historic fight against inflation, Bryan Mena wrote in an analysis for CNN.


Investors and economists are optimistic that consumer spending, the primary engine of the US economy, won't deteriorate significantly.



Investors and economists are optimistic that consumer spending, the primary engine of the US economy, won't deteriorate significantly, which should help prevent a massive sell-off in the stock market this year.


Matthew Palazzolo, senior investment strategist at Bernstein Private Wealth Management, stated, “We're not expecting a significant recession. We're certainly anticipating an economic softening."



Palazzolo further explained that this would likely mean "markets move sideways for the balance of the year until we gain better visibility into what 2024 looks like."


Overall, the stock market has experienced strong performance this year, largely attributed to chipmaker Nvidia and the excitement surrounding artificial intelligence boosting tech stocks, although shares have dipped in August, which is traditionally a challenging month for equities as investors take vacations.




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