In the face of persistent calls for a material slowdown, economic growth in the United States has remained resilient, even as it has become increasingly uneven. Beneath the headline figures lies an economy no longer moving in unison, but instead diverging along lines of ownership, income, and exposure to assets. One in which prosperity and pressure coexist, where the factors that lift one end of the spectrum weigh on the other. US growth has endured not because it has been broadly shared, but because forces supporting one part of the economy have remained powerful enough to offset weakness elsewhere. This dynamic, reinforced by several tailwinds, will remain central to the momentum of the US economy in 2026.
Please enjoy the third theme release in our five-part series leading up to the release of Waterloo Capital’s 2026 Annual Outlook.