Holiday Spending Splurge Marks Last Hurrah Before Looming Economic Slowdown
• Consumers won't rescue US economy in 2024; holiday spending was a "last hurrah"
• Shoppers can't maintain frenzied pace of spending forever per Wells Fargo
• Bank sees US slipping into economic slowdown later this year
• Small business optimism declining for 24th month; signals coming slowdown
• Job market poised to keep softening, especially if Fed keeps rates higher