Eric Johnson on consumer debt
From The consumer is strong, but weakening: Cantor's Eric Johnson · · CNBC Television
“Debt as a percentage of income, yes, it's low and near all-time lows. But I know people getting something in the mail that says, hi, by the way, we just raised your credit card APR to 24%.”
On , Eric Johnson, President of Global Investment Companies at DONNELLEY FINANCIAL SOLTNS, spoke about consumer debt during The consumer is strong, but weakening: Cantor's Eric Johnson on CNBC Television.
About Eric Johnson
Eric Johnson, President of Global Investment Companies at Donnelley Financial Solutions, has appeared in media discussing the economy and investing. In a September 2024 interview, Johnson stated that the consumer is "strong but weakening," citing a declining savings rate and high prices as pressures. He said he cares most that "tightening is over" and that the Federal Reserve is unlikely to raise rates again, adding that an easing environment over the next few years would be a "good backdrop for risk assets." Johnson also noted that many corporations and households locked in low debt before rates rose, which has helped sustain spending. Johnson has also spoken on leadership and entrepreneurship. At a 2023 conference, he argued that leaders must "grow in intelligence and compassion" and avoid offering "one-dimensional answers." In a separate podcast, he said a startup's success hinges on the CEO's ability to focus, multitask, and pivot, and that startups typically fail when they run out of money due to a loss of investor confidence in leadership. Earlier in his career, Johnson presented research on financial decision-making among the elderly, finding that older adults compensate for declining "fluid intelligence" with increased "crystallized intelligence" and often perform as well as younger people on decision-making tasks.