Mike Reed

Mike Reed, Senior U.S. economist at Royal Bank of Canada, delves into the K-shaped economy, illustrating how AI and tech giants like NVIDIA reshape wealth distribution. He discusses rising credit and auto delinquencies impacting middle-income households, exacerbated by significant spending from the top 10%. With a focus on healthcare and services as resilient sectors, Reed warns that shifts in baby boomer retirement could further strain labor markets. Investors are encouraged to consider the segmented consumer landscape for strategic decisions.