They're doctors. If the patient is fine, they'll do nothing. If they feel the economy has trouble spots, they will try to deal with it, and the medicine is raising interest rates.
More Quotes from Delos Smith:
I think consumers are more cautious, and I think the retailers have kept inventories well under control.Delos Smith
In a sense, people have money. But again, you have to think and consider the nervousness if there's another terrorist attack, or if there's mobilization (in Iraq), or you have another sniper attack. We're vulnerable.
Delos Smith
This is not a very pretty picture. The higher gasoline prices had more of an impact that most had expected.
Delos Smith
Probably Asia's diminishing a little bit. But I don't think that this suggests any kind of bad time or recession coming.
Delos Smith
It looks like a nice start but it's hard to tell, hard to have a perspective until we start seeing the cash register receipts. It's hard to tell, but it's perfect shopping weather.
Delos Smith
Consumers right now are bargain hunters, and that's what Wal-Mart is talking about. If you're offering a bargain and the consumer thinks it will go away, you'll get the consumer to buy, but there is no impulse buying going on.
Delos Smith
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