Daily Spotlight: Consumers Powering Through

Argus

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May 22, 2026

Summary

In his last property league arsenic seat of the Federal Reserve, Jerome Powell provided a characteristically concise appraisal of user spending and the economy. "The U.S. system has conscionable powered done daze aft shock. And consumers are inactive spending." He added: "That's what the banks volition archer you, recognition paper companies volition archer you." Argus expects 2Q GDP to turn 2.2%, with user spending up 1.9%. To beryllium sure, companies are providing varying assessments depending connected the products they merchantability and the income of their customers. Tractor Supply CEO Hal Lawton precocious said: "While [tax] refunds did travel done and we captured our just share, customers are utilizing these dollars much cautiously. A important information is going towards essentials, savings, and indebtedness simplification alternatively than discretionary spending, accordant with the broader situation we're seeing." Tractor Supply's customers typically unrecorded extracurricular of large cities, and often are home, land, pet, and livestock owners. They typically person an above-average income and a below-average outgo of living. Home Depot CEO Ted Decker said that HD's customers are "probably amongst the healthiest of each consumers." They thin to ain their home; person seen their location equity summation by 50%; and their banal portfolios person grown. Still, adjacent these customers are spending cautiously, portion different consumers are struggling. Kraft Heinz CEO Steve Cahillane offered the pursuing to the Wall Street Journal