Ariel Investments’ Mellody Hobson anticipates a ‘consumption boom’

Ariel Investments’ Mellody Hobson anticipates a ‘consumption boom’

“We’re anticipating some kind of consumption boom,” Mellody Hobson, co-CEO & president of Ariel Investments, told CNBC’s “Squawk Box” Friday. “People have been locked up for so long — the savings rate for the typical American is higher than it has been — so there is money there despite the unevenness in terms of where there is true, true devastation in this economy in terms of lower income individuals.”

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