Corporate executives are touting the strength of U.S. consumers in the face of surging inflation, assuaging mounting fears of recession.
Bank CEOs kicked off earnings season with a consistent message that household finances and demand are in solid shape. Procter & Gamble Co.—which counts Tide, Bounty, and Pampers among its brands—has seen consumers reaching for premium-brand products. Bank of America Corp. and American Express Co. noted solid travel demand.
Tractor Supply Co. CEO Hal Lawton was more pointed on the retailer's April 21 earnings call: "Any talk of recession at this point is premature."
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