Wealthion · Friday, August 28, 2026
Major US banks like JP Morgan, Bank of America, and Goldman Sachs have consistently reported that the consumer is in better shape than widely perceived. This trend, observed for the past six quarters, shows improving credit quality and stable spending patterns, according to bank management teams. They also noted that AI integration is focused on productivity and profitability, not job displacement.
“The consumer is in much better shape than you hear about and read about.”
“JP Morgan even said this morning that this K-shaped economy notion is not true, and they gave us the data to support it.”
“Goldman Sachs said explicitly that using AI will not cost anybody their job.”