Wealth Effect Maintaining Growth: McCormick

Mark McCormick, chief foreign exchange strategist at BMO Capital Markets, discussed the role of the wealth effect in U.S. consumer spending during an appearance on Bloomberg's "Bloomberg Brief" with host Vonnie Quinn. The wealth effect refers to changes in consumer spending resulting from fluctuations in asset values. McCormick addressed risks associated with relying on this mechanism as a primary driver of consumption in the United States.

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