U.S. Consumer Spending Climbs 0.4% in May

The video discusses the significance of consumer spending in the US economy, especially amid declining business spending and trade. It examines the impact of Brexit on the US economy, highlighting a stronger dollar and potential effects on business confidence and the labor market. The video also explores the disconnect between consumer confidence and spending, despite increased savings from lower gas prices. Finally, it analyzes market reactions to potential Fed rate changes following Brexit, suggesting that the overall impact on the US economy will be modest.

What is the expected overall impact of Brexit on the United States economy?

What are the implications of the Fed funds futures market's assessment on future rate cuts?