US Can Avoid Recession If The 'Well-To-Do' Continue To Spend, Says Moody's Economist: 'If They Turn More Cautious...' - Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), SPDR S&P 500 (ARCA:SPY)

Mark Zandi, the chief economist at Moody’s Analytics, highlighted the role of the wealthy in driving the U.S. economy.Top 20% US Households’ Spending Outpaces InflationZandi took to X to point out that the spending of the top 20% of U.S. households has significantly outpaced inflation since the pandemic. He also highlighted the disproportionate spending of the top 3.3% of the income distribution. According to the economist, the U.S. economy is heavily reliant on the spending of these well-to-do individuals. ...