Kasman: U.S. Has Suffered Shortfall in Consumption

The transcript discusses the surprising results of an election, highlighting Trump's success among white millennials and increased support from Hispanics and Asians compared to Romney. It then shifts to an analysis of American consumption, considering the potential for growth despite economic headwinds. The conversation touches on the impact of house prices and equity values, noting that while some have been left behind, the US economy remains strong compared to the rest of the world. The discussion concludes with an examination of consumer confidence and expectations, suggesting that while there has been a shortfall in consumption, the situation is not dire.

What surprising demographic trend was noted regarding Mr. Trump's support among white millennials?

How did Trump's support among Hispanics and Asians compare to Mitt Romney's?

What factors are mentioned as potential headwinds to American consumption?

What does the speaker suggest about the current state of consumer confidence and household expectations of income?

What was the expected consumption trend following the oil price declines, according to the speaker's models?