What we see is a Fed president trying to be honest with us.
More Quotes from Robert Brusca:
I find it just odd for all these economists and policy makers to be cheering for all this consumer spending when we're just digging ourselves into a hole. With all the obligations we have ahead, to retirees and to ourselves, we have all the reasons in the world for people to be saving more and be controlling their spending.Robert Brusca
Trends show a sharp surge on auto spending in July but little strength elsewhere. Most disturbing is the ongoing sluggishness for services. Demand there is hovering around (annual) gains of 2 percent. That won't create many jobs.
Robert Brusca
It's a surprise -- we thought the unemployment rate would be edging up.
Robert Brusca
We now are on formal rate hike watch. Hope the Fed has this one right because this admission will hike bond rates.
Robert Brusca
The consumer still has life. It does temper the overall gain, but we're still going to see the consumer spending this quarter.
Robert Brusca
I look at this as the closing of a window of opportunity to raise rates. If they're more aggressive, they're more likely to have an immediate effect on people's psychology. If they're too aggressive, they can undo that. If they're not aggressive enough, they can't undo that.
Robert Brusca
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