Bloomberg Surveillance · Monday, July 27, 2026
Lindsay Graham notes the unusual resilience of the US economy, with consumer spending and job creation continuing despite a significant rise in energy prices. Typically, sustained higher energy costs would derail the consumer and slow economic growth, but the economy is still expanding at a decent pace.
“But you're right, we're not necessarily seeing that. We're continuing to see this pressure at the pump higher energy prices, but the economy is still expanding now certainly not at an overly robust pace by any means, but we maintain this decent pace, and as we look out to the second quarter, we're likely to continue around this two is ish percent with still stable conditions in the labor market.”
“Again, we have lost some momentum, but the average pace around one hundred thousand per month does suggest that the latest pathway of higher energy prices has not yet derailed the consumer or the broader economy.”