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.
More Quotes from Anthony Chan:
We're coming off 6 percent consumer spending growth in the fourth quarter, and that's going to moderate. It's not going to collapse, but see we spending in the neighborhood of 2 to 3 percent for the rest of the year.Anthony Chan
But what we've seen is if you hit the economy over the head enough times with higher energy prices and short-term interest rate hikes, it reacts.
Anthony Chan
The overall total of nominal sales is likely to remain somewhat weak.
Anthony Chan
Consumer prices are really what you have to worry about, ... In the consumer price index, there seems to be some extreme resiliency on the service side, which is much larger than the goods side. There's no deflation on the service side.
Anthony Chan
The good news is that if so many people are entering the labor force it must mean that they are perceiving an improvement in the economy's prospects, ... The bad news, however, is that if too many people become optimistic about their job prospects, then the unemployment rate will continue to push higher. And the higher unemployment rate does have a damaging impact on consumers. They see it and they think, 'I shouldn't be spending money.' That's one of reason the unemployment rate is so important. It's the one that drives what happens on main street.
Anthony Chan
We still see limited penetration into the rest of the economy. It's too early to say you're seeing pricing power to pass on the energy cost increases just because you saw just a jump in the core PPI number. The world has changed. In the old traditional world, whenever you had mature expansion, you had pricing power. Today with globalization, that's no longer the case.
Anthony Chan
Readers Who Like This Quotation Also Like:
Based on Topics: Balance Quotes, Danger & Risk Quotes, Sales QuotesBased on Keywords: boosted, zero-percent
Having kids has been great for me. I have two beautiful step- kids, as well as my own new daughter. They've really helped me to keep my feet firmly on the ground, and life is good. I feel like I'm the luckiest guy here.
Matt LeBlanc
No true believer could be intolerant or a persecutor. If I were a magistrate and the law carried the death penalty against atheists, I would begin by sending to the stake whoever denounced another.
Jean-Jacques Rousseau
I'll let the racket do the talking.
John McEnroe