Alan Ackerman Closer Quotations

Rate hikes bite different sectors of the economy at different rates. For example, one of the key areas that was hit hard and appears to be slowing down is housing. Consumer spending will take some time to slow down, maybe three to six months out. But in any case, what the Fed is targeting is                   GDP of 5 percent this year and a GDP hopefully next year of closer to 4 to 4-1/4 percent.

However as we come closer to the next Fed meeting, and hopes are that the Fed will cut interest rates, we might have a relief rally.