A version of the following article appeared in the Monday, November 2, 2026, edition of The Charlotte Ledger, an e-newsletter with local business-y news and insights for Charlotte, N.C.
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Bank investment strategist forecasts economic strength into 2027
by Tony Mecia
As the midterm election approaches, a U.S. Bank investment strategist says the American economy remains surprisingly resilient, supported by strong consumer spending but with higher prices threatening to slow growth.
Speaking last week at a gathering for Charlotte business leaders and bank clients, Tom Hainlin, the bank’s national investment strategist, said the economy has defied forecasts and been more durable than predicted, and the outlook still remains favorable.
“We still think opportunity outweighs risks,” he said.
Among his observations:
◼️ Consumers continue to spend: Consumer spending, which accounts for about 70% of the economy, remains healthy, and income growth has outpaced inflation this year.
◼️ Businesses are investing: Commercial lending continues to grow, and business investment remains on the rise. Hainlin said the latest figures show confidence from businesses willing to invest and banks willing to lend.
◼️ Corporate profits are surging: Earnings growth for the largest U.S. companies is surpassing expectations from earlier in the year, which continues to power the stock market.
◼️ Inflation persists: High energy prices, tariffs and competition for workers continue to force inflation higher.
He said the first signs of a weakening economy would be rising layoffs, slowing consumer spending, tighter credit or higher inflation, though those conditions are not evident at the moment.
And he said the results of Tuesday’s election are unlikely to have an immediate effect on the stock market.
“It's not necessarily who wins on Tuesday,” he said. “It's really how the policies that advance from there affect economic underpinnings of growth and inflation.”
