The U.S economy may stay resilient in the second half, but the soft landing still needs to be proven.

Wells Fargo expects U.S. GDP growth and unemployment to remain relatively stable through the second half of the year, while core PCE could post its lowest monthly reading of 2026. That suggests the economy is still avoiding a recession, and inflation continues to move in the right direction. From a market perspective, steady growth combined with easing inflation is about as close to a soft landing as investors could hope for. A resilient labor market supports consumer spending, while cooling inf