There's no question that what's happening in the stock market is going to hurt consumer spending. The only thing helping us is the performance of housing.
More Quotes from Anthony Chan:
Despite the fact that the unemployment rate remains low relative to prior economic downturns, the burden on the unemployed population has been the most severe, by one measure, since at least 1972.Anthony Chan
We will see a moderation but not a collapse in consumer spending,
Anthony Chan
For the equity market, this is somewhat good news because certainly (the report) is an important button for the Federal Reserve to see if its policies are working and that housing is slowing down, as it would be expected to do so, with all the hikes in short-term interest rates.
Anthony Chan
These numbers are essentially telling us that retail sales were artificially boosted by zero-percent financing. These numbers are not going to do anything to discourage the Fed from thinking that the balance of risk in the economy is toward weakness.
Anthony Chan
The small improvement in labor market conditions, despite the continued risks that remain on this front, do suggest that even with all the caveats that Greenspan echoed in his latest testimony ... the Fed might be inclined to move towards a neutral risk bias,
Anthony Chan
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Based on Topics: Performance QuotesWhy can't somebody give us a list of things that everybody thinks and nobody says, and another list of things that everybody says and nobody thinks.
Oliver Wendell Holmes
Psychoanalysts believe that the only 'normal' people are those who cause no trouble either to themselves or anyone else.
A. J. P. Taylor