The economy is very fragile with inflation still hurting poorer Americans, economist Steve Moore says

• The US has so far avoided a recession in 2023, defying many forecasters' expectations.
• But Steve Moore believes the economy still looks "very fragile".
• Inflation is still sapping poorer Americans' purchasing power, he told Fox Business Wednesday.

Since the Federal Reserve began aggressively hiking interest rates last year, economists have been fretting that a US recession is on its way. 

But the stock market has continued to defy expectations, and a string of positive economic data has eased the market's fears of an immediate downturn.