Davos 2024
Moelis Warns Economy Could Slow With Consumer ‘Out of Gas’
- CEO says he’s happy leading Moelis amid succession chatter
- Moelis sees consumers’ spending slowing as savings deplete
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Ken Moelis warned US economic growth could slow as consumers grapple with dwindling savings and the impact of the Federal Reserve’s aggressive moves to raise interest rates in recent months.
Sharp declines in consumer spending would encourage the Fed to begin cutting rates, which could help spur a rebound in dealmaking activity this year, according to Moelis, who’s chief executive officer of his eponymous advisory firm Moelis & Co.