The two-steps-forward, one-step-back sequence is not at all uncommon for the Consumer Confidence Index during the early stages of an economic recovery.
More Quotes from 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
Markets are rational and forward-looking. However, they can also be wrong.
Mark Vitner
The No. 1 reason new orders and production are falling is that inventories have risen in recent months as consumer spending has slowed. Such a buildup was acceptable when economic growth was accelerating. Now that growth is cooling off, businesses will need to curb stockpiles.
Mark Vitner
If we had an anti-business Congress that went after pension reform aggressively, it could have a devastating impact on Wall Street.
Mark Vitner
(The Fed) would rather see slower economic growth over the next two years than the return of stagflation three or four years down the road, ... And I think they'll do everything they have to make sure we don't have stagflation.
Mark Vitner
The way the Fed is supposed to influence markets is through an open market policy, but they will also use the open mouth policy,
Mark Vitner
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