We're just now realizing how badly off the economy was in the second quarter, ... The wider trade gap, along with the weakness we saw in the business inventory numbers that came out this week and weaker construction spending, will probably result in a second-quarter revised GDP number that will be zero or even slightly negative. It will be an eye-opening number, but it's no more worrisome than what we've seen.
More Quotes from Mark Vitner:
We're shifting from an economy driven by consumer spending and home building to one driven by business investment.Mark Vitner
Anecdotal evidence and common sense suggests that core inflation has not been anywhere near this tame,
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I think Ferguson might be the best vice chairman we've ever had.
Mark Vitner
With so many folks sensing that interest rates were rising, we probably had some sales pulled from April into March,
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It gives the Fed a little more breathing room on interest rates, that's the most I can say.
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
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