Gen Z and millennials are propping up the economy — with help from their parents, 'Oracle of Wall Street' says

REUTERS/Danny Moloshok

• Gen Z and millennial consumers are helping keep the US economy strong, Meredith Whitney wrote in the Financial Times.
• Many in this group still live with parents, helping ease costs faced by other households, she said.
• Whitney expects weakness to flash in upcoming consumer-survey data.

Young spenders are a key backbone of today's US economy, as their spending patterns offset weakness in other age groups, Meredith Whitney — the famed economist known as the "Oracle of Wall Street" ...