They (investors) tend to overreact to individual economic reports which may be more statistical noise than an underlying trend which takes three to four months to develop, ... They tend to pay equal attention to almost any report that is relevant, and some are more significant than others.
More Quotes from Lynn Reaser:
Retailers are biting their nails because of the large decline in consumer confidence. But it remains to be seen whether consumers will vote with their feet.Lynn Reaser
However, economists hope this is only a one-month spike. Productivity gains are still good and workers are not receiving large pay increases, ... Labor costs are still contained.
Lynn Reaser
The revised spending number is more consistent with other data we have seen on consumer spending for May, including auto sales. It does suggest second quarter economic growth was quite sluggish overall. But we already knew that. It probably doesn't change the outlook for the second half of the year.
Lynn Reaser
They are definitely off auto pilot. Although another increase at the end of March seems likely, the statement in the minutes reinforces the view that future policy steps will depend more on the behavior of economic statistics.
Lynn Reaser
Today was a relief rally it was an oil-price relief story. Oil prices are still very high, but much more moderate than the worst fears of last week.
Lynn Reaser
But we do believe there is a light at the end of the tunnel.
Lynn Reaser
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