Dow Jones

AT&T Chief Financial Officer Pascal Desroches says "it's only a matter of time" before consumers start to "really" feel the impact of inflation, but he thinks the wireless business will prove "resilient." In the wake of a recent Federal Reserve report that showed jumps in debt not witnessed in years, Desroches sees signs that "the consumer is starting to feel the pinch and that [at] these higher interest-rate levels, credit card debt will be very expensive to maintain." Desroches continued, saying, "So, all those things cause me to be somewhat cautious.