From Chick-fil-A to Credit Spreads: Gauging the U.S. Consumer in 2025

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Season 9, Episode 09

This week on “Know More. Risk Better.” Zachary Griffiths interviews Winnie Cisar on the real state of the U.S. consumer and what it means for credit into 2026. They cut through mixed signals – solid balance sheets vs. sticker shock on everyday items like Chick-fil-A, rising car payments, and a cooling jobs market – to explain how spending, inflation, and policy expectations are shaping spreads.

Winnie lays out why payroll weakness hasn’t cracked credit, how market cash and technicals are cushioning moves, and what could finally shift sentiment. Expect clear takeaways on positioning, risks to watch, and the scenarios that might push spreads wider – or let them grind tighter.