US consumer spending will 'deteriorate' -wealth manager

STORY: Gilbert says interest rates have risen and inflation remains high, "yet still we're seeing the consumer spend, we're especially seeing the consumer continue to spend on services. So travel, hotels, all of those items continue to be strong. Eventually we'll start to see those things deteriorate as we get into a recessionary environment."

She expects the U.S. to enter a recession in the third quarter of 2023.