Bloomberg Surveillance · Wednesday, July 29, 2026
A speaker highlights two key risks for the second half of the year: fading tailwinds for the consumer and higher-for-longer interest rates. The consumer's support from tax refunds and liquidity is diminishing, while liquidity is tightening, suggesting a slowdown in growth. The "higher for longer" rate environment is seen as a significant headwind.
“And then also higher for longer instrates. Both of those things are actually happening, and so I think that our base cases that growth does slow in the second half of the year. The real question is how much.”
“You know, this is not a great environment for accelerating.”
“Yeah, I mean, I think if you just look at the sheer amount of tailwinds that have been boosting the consumer, whether you know it's tax cuts or just the reopening of liquidity, you know there's been a lot that's gone into boosting the overall economy in the first half of the year.”