Many things were playing out in the economy when the tariff shocks hit. One of them, importantly, was personal income growth. Consumers were in growth mode, and, as our next guest likes to remind investors, starting points matter. If corporate earnings were reaping the benefits of a ‘fit’ consumer, on balance, how much more could their bottom lines absorb, than if personal growth had been absent in the US economy? Joining the show today to explore this element of the corporate earnings story - and its connections to potential multiples growth - is Head of Quantitative Strategy at Fidelity, Denise Chisholm.

Recorded on June 12, 2025.

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