Baby Boomer Spending Surge Buoys Economy, Preventing Feared Recession

Baby boomers are the richest generation and are spending more as they retire, boosting industries like travel, dining, and healthcare
There are 47.7 million retired baby boomers not working anymore, presumed to be spending savings and investment income
Baby boomers hold $76.2 trillion in wealth, about half of total US household net worth, giving them lots of spending power
Boomer spending has contributed to economic resilience and trend-like 2%+ GDP growth, preventing widely-feared consumer-led recession
This boomer spending tailwind, combined with falling inflation and potential Fed rate cuts, could sustain growth for years as more boomers retire