Bank of America Just Told Us Something Important About Consumer Spending

Its net charge-offs and delinquencies have risen for several quarters in a row. Here's what the bank expects for the rest of 2024.Despite two years of higher-than-normal inflation and rising interest rates, U.S. consumer spending has remained remarkably resilient. That resilience has helped keep the economy from sliding into recession, despite the pessimistic forecasts that it would.Because it's one of the largest banks in the U.S., Bank of America's (BAC 3.35%) metrics can provide investors with some valua ...