"The Economic Power of Baby Boomers in Recession Prevention"

Market veteran Ed Yardeni argues that baby boomers' rising spending habits, fueled by a transition into retirement with a record $76 trillion in net worth, have been instrumental in fending off a consumer recession. Despite concerns about a looming economic downturn, Yardeni points to the resilience of the services sector and the impact of retirees' consumption on boosting real incomes. He also highlights how the Federal Reserve's actions and the focus on service spending may have distorted recession indicators, offering a fresh perspective on the role of the postwar generation in the economy.