Consumers are still willing to spend, even with the high energy prices, and capital investment is booming. By the second half of the year, we'll see the cumulative effect of interest- rate increases begin to bite and the economy slow.
More Quotes from Ken Mayland:
There is a great deal of fear and uncertainty out there. On the one hand it's sad to see peoples' lives disrupted and destroyed. On the other hand, people are worrying about how they are going to pay their gasoline bills and their home heating bills this winter. It makes for a pretty bleak view of the future.Ken Mayland
If the Fed is wrong and inflation runs too high, out of control, there can be a catastrophic loss of confidence in the Fed that has national and international implications.
Ken Mayland
We are still anchored down by our above-average dependence on the auto industry, which doesn't have much upside potential. GM is in a struggle for survival.
Ken Mayland
Accept this for what it is an emotional reaction to tragic circumstances. But are people going to stop spending No.
Ken Mayland
This gives us some confidence that overall consumer spending growth in Q1 will be a lot better than Q4, and by implication, Q1 GDP growth will be much better.
Ken Mayland
Auto sales at these monstrous levels, these gargantuan levels, cannot be sustained. They will come back to normal levels.
Ken Mayland
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