High gasoline prices gradually eat away at income. The effect isn't felt all at once. We have seen consumers change their behavior in recent months and there should be further changes if prices stay at these levels.
More Quotes from Mark Vitner:
Certainly they would like to stop at five (percent), and I don't think this number prevents them from doing that, but it is something that should raise some doubts.Mark Vitner
It confirms that this recession in 2001 was not particularly mild or as short as some folks had thought, ... We were expecting at least two negative quarters, and the fact we had three is a little bit of a surprise. That helps explain why we're having so
Mark Vitner
This may be the last bad PPI report we'll see for quite some time, ... This might be the height of this particular inflation scare.
Mark Vitner
We've had a pretty good run here in anticipation that the Fed is nearly done raising interest rates.
Mark Vitner
Virtually all indices remain at solid levels. It's a very strong reading for manufacturing overall. The most disturbing thing is the prices paid which is almost at crisis levels.
Mark Vitner
When the federal government increases the budget deficit it increases interest rates on everybody, so it is like a tax increase on borrowing. What that means is that mortgages will be more expensive.
Mark Vitner
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