CoinWorld News reports that senior economist Paolo Zanghieri of Generali Investments pointed out that rising energy costs and persistent inflation are impacting American households, while real income growth has already slowed, leading to a weakening in consumer spending momentum. It is expected that the U.S. household consumption growth rate will be only 1.7% in 2026, about one percentage point lower than in 2025. The main reason for the slowdown in consumption growth is the deterioration of the labor market. Employment growth in the private sector has essentially stalled, with hiring activity at its lowest level since April 2020, and the decline in resignation rates indicates that wage growth will slow down in the future.