We expect a big jump in consumer confidence now that the effects of Katrina and higher gas prices are further behind us. Higher confidence will lead to a better-than-expected holiday shopping season as well.
More Quotes from Mark Vitner:
They would like to raise rates, but right now, keeping rates a little too low would cause the least harm in the economy. If they raise rates after this weak employment report, people will be hollering. George Bush would be hollering the loudest.Mark Vitner
I think it's going to be a bad month for retailers. The news was so horrific coming out of New Orleans that it made people not feel like going out to dinner.
Mark Vitner
Some folks will be quick to jump on this morning's data as a sure sign that the next move by the Fed will be to cut interest rates. Such talk is still way too premature.
Mark Vitner
I think Ferguson might be the best vice chairman we've ever had.
Mark Vitner
The prices paid is still way up there, inflation is still running a little hot, enough that the Fed will continue to raise interest rates.
Mark Vitner
It's always a question in getting the cost right and delivering the product at the right time.
Mark Vitner
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