Baby Boomers' $76 Trillion Savings Shield US from Recession

24.05.23 News

According to market expert Ed Yardeni, one group has injected $76 trillion in savings into the economy and are primarily responsible for helping prevent a recession: Baby Boomers. Their increased spending on services like restaurants, travel, and healthcare is boosting payrolls and incomes, countering traditional recession indicators that focus on the goods economy. Yardeni argues that this generation’s spending habits, particularly as they retire, are crucial in sustaining economic growth despite widespread recession fears.

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