US consumer confidence rose in May after a series of monthly declines. While consumers are a big proponent of US GDP (Gross Domestic Product), what's in store for Americans who are bogged down by inflation and higher for longer interest rates?

NorthEnd Private Wealth CIO Alex McGrath joins Market Domination Overtime to chat about the environment the US consumer finds itself and the likelihood of a rate hike by the Federal Reserve

"We talked a lot in 2020 about K-shaped recovery... where people, asset owners ended up far better off coming out of that recovery than the bottom half of the K did," McGrath says. "And I think we're all kind of looking at the exact same thing here where if you're above a certain line, this inflation pain point isn't nearly as important to you if you're below a certain line."

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This post was written by Luke Carberry Mogan.