Consumers Feel Awful But Keep Spending with Michelle Meyer, Mastercard's Chief Economist

Learn more about Astraeus Wealth Management: ⁠http://astraeuswealth.com/partner-with-us⁠ Guy Adami welcomes back Michelle Meyer, Chief Economist at Mastercard, to dig into what Mastercard's data is saying about the American consumer heading into the holiday season. With mortgage rates above 7% and sentiment surveys still gloomy, Michelle explains why spending keeps holding up. The answer is a healthy labor market, strong household balance sheets, and a K-shaped economy where upper-income households are spending faster but every income group is still growing. She breaks down Mastercard's forecast for 5.5% holiday spending growth (excluding autos and gas), the strongest in four years, and how much of that is real volume versus inflation. They also discuss why real wages are sitting right on the line and why diesel prices are worth watching. Michelle shares new research showing that AI power users shop across more merchants and start their holiday buying earlier. The conversation closes with what to watch in the labor market and a preview of Mastercard's 2027 outlook, coming in early December. Michelle's holiday forecast report is linked in the show notes. Holiday 2026: AI assists and last-minute lists: https://www.mastercard.com/global/en/news-and-trends/insights-report/our-insights/holiday-blog-2026.html — FOLLOW US Instagram: https://www.instagram.com/riskreversalmedia/ Twitter: https://x.com/riskreversal LinkedIn: https://www.linkedin.com/company/riskreversalmedia #investing #stocks #stockmarket The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose. Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.