US Consumer Is 'Roughed Up,' But Spending, Porcelli Says
Source: Bloomberg ·
Tom Porcelli, chief economist at Wells Fargo, says US consumers are "roughed up," but they are still spending. He says wages are struggling, but consumers are still feeling pretty good because a wealth effect is in place. He is on "Bloomberg Money." (Source: Bloomberg)
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BestAIBroker analysis
- Finance-aware sentiment: slightly positive (+0.10 on a -1 to +1 scale).
- Event classification: OTHER.
- Market importance score: 38/100, weighting entity relevance, source credibility, multi-outlet coverage and recency.
- Symbols referenced: IP.