The latest episode of Macro Markets featured Cointelegraph analyst Marcel Pechman discussing the strength of US consumption despite increasing auto-loan and credit card delinquency. Pechman believes that consumers have built up a cushion of extra cash savings due to government stimulus and student loan repayment forgiveness. However, according to JPMorgan, this cushion has been spent down. Pechman does not think that betting against the S&P 500 is a good idea, as inflation is on the horizon and the government will need to inject liquidity to avoid a recession.Pechman then discussed the Chinese central bank’s intervention after the yuan hit a 16-year low against the US dollar. He believes that the risk lies in the market doubting the country’s ability to sustain a stronger yuan, and that the Chinese central bank’s actions have limits. For now, Pechman does not see any imminent risk coming from the yuan, but it is worth keeping an eye on.

Information	Details
Geography	Asia
Countries	🇺🇸 🇨🇳
Sentiment	neutral
Relevance Score	8
People	Marcel Pechman, JPMorgan, Business Insider, People’s Bank of China
Companies	People’s Bank of China, JPMorgan, Cointelegraph, Business Insider, Macro Markets
Currencies	US Dollar, Yuan, Bitcoin, Ethereum, None
Securities	None