Issue 70: US Consumers
- Sharmila Whelan
- Jul 2
- 1 min read
1 July 2026
For now, US consumers continue to spend. Large tax refunds, together with the OBBBF's tax incentives and fiscal transfers, are providing significant support. Even so, the key uncertainty is how the world's largest consumer market, measured by purchasing power, responds to the effects of the Iran war. Either way, Trump is in trouble.
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