Reuters
Bank analysts, investors antsy for spending outlook as inflation risks grow
NEW YORK (Reuters) -Analysts and investors of major Wall Street banks are eagerly anticipating any insight from executives on the outlook for consumer spending and borrowing, a key source of revenue, when first-quarter earnings are unveiled next month. U.S. consumer spending has been rising for months as the country emerges from the COVID-19 pandemic and Americans make up for lost time traveling, shopping and dining out, bankers and economists say. Executives from JPMorgan Chase & Co, Bank of America and Wells Fargo & Co, which together bank around half of all U.S. households, have said for months the American consumer is in good health, spending more and using account balances, which grew during the pandemic, to pay down credit cards and other debt.
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