Former OMB director says a halt in US consumer spending would bring on a recession [CNBC]
Comcast Corporation - Class A (CMCSA)
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Source: CNBC
Former OMB director says a halt in US consumer spending would bring on a recession Jim Nussle, a former director of the Office of Management and Budget, told CNBC's " Closing Bell "I see [the trade war] as a leading indicator of the concern from the consumers, and if they decide that they're going to pull out of the market, they decide they're going to stop spending, that will force us, as quickly as anything, into a recession," said Nussle, CEO of the Credit Union National Association. Consumers make up roughly While retail sales are up and retail earnings have done well in the past quarter, consumer spending can weaken from volatile market conditions. According to a report released last week, the U.S. consumer sentiment index fell Nussle agreed with other economists and retail watchers that "70% ... of the economic force in our country" is tied to U.S. consumers and consumer spending. "[Consumers] are worried about their future, whether it's their job, living paycheck to paycheck,
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