Year over year, the data shows, this will be the strongest holiday season since 1999. But because consumers have been spending since September, there's not much pent-up demand. Consumers have already spent up demand.
More Quotes from Scott Hoyt:
They're moving away from bank cards and credit cards -- short-term installment debt -- into various forms of mortgage borrowing with lower interest rates and long terms.Scott Hoyt
A lot of the weakness in consumer spending in the fourth quarter was because auto sales were weak in December after surging in the third quarter. It's important to look beyond auto sales. At least for the first quarter, it's not going to take much for consumer spending to look good.
Scott Hoyt
We're assuming January was all about the weather.
Scott Hoyt
The purchase will make us stronger in all segments, especially maritime communications.
Scott Hoyt
The raises in interest rates will reduce the willingness and ability of consumers to continue their pace of borrowing. This is both directly -- through the cost of debt -- and indirectly -- because it's likely to slow house price appreciation.
Scott Hoyt
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