The US economy has eluded obstacles and defied recessionary predictions like players in Frogger dodging cars and alligators to arrive safely home. Our economist believes that while the economy will slow meaningfully from its recent leaping pace, recessionary concerns are fading. Yes, consumer spending is likely to be challenged by rising credit card balances, falling savings rates, and less robust employment growth, but record household net worth will keep spending from collapsing. In addition, healthy government-induced corporate investments through the CHIPS and Science Act, Inflation Reduction Act, and Bipartisan Infrastructure Law are likely to offset any consumer weakness.

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