This is what the Federal Reserve has been warning about for a long time -- we will still see consumer spending growth, but it will be more moderate than before, ... It's a retrenchment of consumer spending growth from blistering levels.
More Quotes from Lara Rhame:
The underlying state of the economy is on weak footing, and we're going to need further stimulus to keep the recovery on track.Lara Rhame
The dollar is largely unchanged. In these holiday markets, I think releases like tomorrow's personal income data are going to be more critical than the backward-looking GDP report.
Lara Rhame
I don't see the scope for the ECB to match the Fed in terms of raising rates and this will continue to support the dollar. The ECB tends to lag the Fed and even if they hike, the yield differentials are still favorable to the dollar.
Lara Rhame
I think the employment situation is getting better, slowly, so I don't think it will cause the consumer to shut down. But job growth like this makes consumer spending that much more fragile, if some exogenous shock should hit.
Lara Rhame
Almost always the knee-jerk reaction in the markets to positive news on reforms is yen positive. People look at reform as being a positive thing for Japan, one day, hopefully.
Lara Rhame
Broadly, the ISM number reflects what we've been saying for some time We're on the road to recovery, and we've seen the slowest growth behind us -- but this recovery is going to proceed in fits and starts. It's not going to be a one-way street.
Lara Rhame
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A dead end can never be a one way street; you can always turn around and take another road.
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I have written 20 books, and each one is like having a baby. Writing is not easy; some people want to write books but just can't put a story together. I can put together a story that interests both me and my readers.
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