Wealthy consumers and tax refunds: Tailwinds for 2026

1. Source: Federal Reserve Bank of Atlanta, Bureau of Labor Statistics, Macrobond, Fidelity Investments (AART), as of 9/30/25.

2. Source: IRS, U.S. House Committee on Ways & Means, as of 1/12/26.

* OBB/OB3 refers to the One Big Beautiful Bill/One Big Beautiful Bill Act.

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