穆迪:美股走势逆转或导致高收入群体缩减开支,为经济前景带来挑战

格隆汇
Oct 21, 2025

10月21日,穆迪分析首席经济师Mark Zandi表示,对美国银行体系相对乐观,但对金融市场则较为审慎。现时估值偏高,市场气氛略显过热,甚至接近泡沫边缘,这种泡沫与高收入家庭的消费直接相关。若股市出现逆转,支撑消费的高收入群体可能迅速缩减开支,为经济前景带来挑战。

穆迪估计,美国收入最高的10%人群贡献了全国约一半的消费开支。这让经济在通胀和关税夹击下仍能维持增长,但也突显了消费能力与资本市场表现的高度相关性,尤其是近期市场波动加剧。

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