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Fortune
Fortune
Eleanor Pringle

'YOLO' spenders are propping up the economy a Wharton professor believes

Jeremy Siegel, Russell E. Palmer Professor of Finance at the Wharton School of the University of Pennsylvania in Philadelphia, (Credit: Scott Mlyn—CNBC/NBCU Photo Bank/NBCUniversal - Getty Images)

When the warm weather vanishes at the end of this summer season, it could take the economy's unexpected buoyancy with it.

According to Wharton professor Jeremy Siegel, the U.S. economy appears to be "progressing smoothly, with a resilient consumer impervious to the impact of higher borrowing costs."

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