Recent earnings from companies like Walmart (WMT) and Target (TGT), have shown the consumer is cautious about where and how they are spending. BlackRock Global Fixed Income Chief Investment Officer Rick Rieder joins Yahoo Finance Live to discuss the state of the consumer.
Rieder says "the consumer is still in pretty good shape," given the current unemployment rate, wages, and savings rate. Rieder explains that "consumers are definitely moving more to experiences… that is a cultural shift." Rieder says the middle to higher-end consumer "is doing quite well today," however the "lower end" is "tricky" and "having a harder time." "There are a ton of trends underneath the surface and you’re seeing that play out in these earnings numbers," Rieder says.
