Macro Pulse U.S.: Real Income Weakness Narrows the Consumer Cushion
Real disposable income has recently turned from a tailwind into a headwind, raising the risk that consumer spending will slow further as inflation, softer wage growth, and thinner savings cushions converge.
In the latest 3 Things in Credit, KBRA’s Chief Markets Strategist Van Hesser examines Federal Reserve Governor Chris Waller’s shift of focus toward inflation risk, the slowdown in real disposable income, and KBRA Analytics’ updated 2026 default forecasts. Listen to Van Hesser’s insights on: Apple Podcasts | YouTube Music | Spotify or visit
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