As home prices level off, so will the growth of equity that has supported consumer spending in the past. The impact from higher interest rates on home equity loans and adjustable rate mortgages will combine with stubbornly high energy prices to squeeze discretionary spending.
More Quotes from Robert McGee:
This is my first time attending this one. It's a good one, very educational.Robert McGee
Credit remains widely available for both consumers and businesses despite higher interest rates. However, consumer borrowing is likely to slow as housing markets cool. Business borrowing should take up some of the slack.
Robert McGee
The balance of risk is shifting from inflation to slower growth. The full impact of the past year's tightening has yet to be felt, which should raise a caution flag for the Fed.
Robert McGee
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