The economy might look good by the numbers, but there’s still a lot of consumer uncertainty, America’s Credit Unions’ economic team told the BIGCast in its recent episode from the Governmental Affairs Conference (GAC). America’s Credit Unions’ Ligia Vado called it a “vibe-cession,” noting that consumers do not seem very optimistic.
“Even though the economy is strong and consumers are spending a lot—even more than before the pandemic—they just have a sense that things might change very quickly, at any minute,” she said, adding “people are feeling the way they feel when there’s an actual recession.”
The team covered unemployment, inflation, and noted increasing regulator concerns with credit quality as things to keep an eye on going forward.
The interview was conducted shortly after the economists’ mainstage presentation at the GAC, available for this month’s Economic Update.
