1144 ET - The U.S. consumer continues to be resilient, despite looming macroeconomic uncertainty from inflation, interest rates, and the expiration of Affordable Care Act subsidies, Capital One CEO Richard Fairbank tells investors on a Thursday evening call. Consumer spending remains strong, real wages are growing, the labor market appears stable, and delinquencies in Capital One's portfolio are falling, he says. The coming tax refunds from the One Big Beautiful Bill Act -- possibly higher than what consumers expect -- will also boost consumer credit, though this is likely to be a one-time benefit as lower withholdings in 2026 will lead to lower refunds in 2027. "We think the health of the overall macro economy and of the U.S. consumer, it's really in a pretty good place, and as a result, we continue to lean into our growth opportunities," he says. (elias.schisgall@wsj.com)

(END) Dow Jones Newswires

January 23, 2026 11:44 ET (16:44 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.