17:I[66739,["/_next/static/chunks/0.3dg.jzl0xwf.js?dpl=dpl_wni71eTQeio7irGWmurLp7HRfDNL","/_next/static/chunks/05hx6kuf6-oy4.js?dpl=dpl_wni71eTQeio7irGWmurLp7HRfDNL","/_next/static/chunks/0~heydqc5smtk.js?dpl=dpl_wni71eTQeio7irGWmurLp7HRfDNL","/_next/static/chunks/0juapqyy99ga..js?dpl=dpl_wni71eTQeio7irGWmurLp7HRfDNL","/_next/static/chunks/12fz8clx4-stp.js?dpl=dpl_wni71eTQeio7irGWmurLp7HRfDNL","/_next/static/chunks/06dn~uer6.43l.js?dpl=dpl_wni71eTQeio7irGWmurLp7HRfDNL"],"default"] 19:I[38632,["/_next/static/chunks/0qqtp3r0h7kah.js?dpl=dpl_wni71eTQeio7irGWmurLp7HRfDNL","/_next/static/chunks/0iukvycbd42rl.js?dpl=dpl_wni71eTQeio7irGWmurLp7HRfDNL"],"IconMark"] 18:T53c,

“Let’s see if we can finish strong” at the end of the year, says Andrew Wells. He looks at the overall picture and focuses on consumer credit and spending ability. He notes that credit rejections have gone up to 25%, arguing that while people want to spend, the banking sector is becoming more cautious. He thinks this is part of why the Fed feels pressure to cut rates. Inflation is “probably the big risk factor” for 2026.

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Wells: Credit Application Rejections Rising to 25%

Schwab Network

Wells: Credit Application Rejections Rising to 25%