Wayne Ayers
Wayne Ayers
came consumers hanging higher robust showing
It came in a little higher than expected, but I take it as more of the same -- consumers are hanging in, but they're not showing robust enthusiasm.
apt close consumer consumers deflation expect japanese nowhere prices spiral
We're nowhere close to the Japanese example. When you have real deflation as they have in Japan, consumers expect prices to be lower, and they defer purchases, which makes the spiral worse. That's not an apt description of what the American consumer has been doing.
businesses economic fourth growth levels losing otherwise risk
Inventories are at rock-bottom levels -- even if economic growth slows in the fourth quarter, those inventories will have to be rebuilt, otherwise businesses risk losing business.
past recessions room
They've got more room to move, and they will move. That's what they've always done in past recessions and what they'll do again.
accounts auto certainly consumers entirely fourth giving growth helpful hung incentives ongoing outside remember strength
Certainly those auto incentives were helpful in giving us that growth in the fourth quarter. But we have to remember that even outside of autos, the consumers have really hung in there. I don't think it's entirely a fluke. I don't think it accounts for the ongoing strength of the consumer.
circles financial instantly
He's instantly recognizable in financial circles and has international stature.
bond close expectation few given lows rebound recent sharp
You can't read too much into any one number, but it's a sharp rebound from the lows of October. Given that and a few other things, the bond market's more recent expectation is that the Fed, if it's not finished, is close to being finished.