Consumer spending in the third quarter is expected to increase by 1.9%, boosted by stadium tours from Taylor Swift and Beyoncé, as well as the success of movies such as "Barbie" and "Oppenheimer," according to Morgan Stanley. However, the economic impact may be short-lived, with a potential "hangover effect" in the fourth quarter due to the end of the music tours and declining theater viewership. The return of student loan payments in the fall is also expected to negatively impact Consumer Spending. The article suggests that the Federal Reserve should be patient when deciding on future interest rates in light of these factors.

The post Taylor Swift, Beyoncé and ‘Barbenheimer’ are Lifting Consumer Spending this quarter. But Morgan Stanley says it may not last appeared first on Balanced News Summary.