Wall Street's largest banks have offered a reassuring assessment of the health of the US consumer, pointing to resilient spending, rising loan balances and stable credit quality even as elevated borrowing costs and geopolitical tensions cloud the broader economic outlook, according to Reuters.
Executives from major U.S. lenders said household finances remain supported by a solid labor market and wage growth, helping consumers continue spending despite persistent inflation and uncertainty surrounding the economic impact of the U.S.-Iran conflict.
