Mark Vitner Higher Quotations

There is no operating manual that says what a neutral fed funds rate is, but the Fed knows that it's higher than 3 percent,

It (consumer sentiment) was a little higher than expected, but the stock market has come back, gasoline prices have come down, and the weather has been beautiful and that has to affect consumers somewhat.

We expect a big jump in consumer confidence now that the effects of Katrina and higher gas prices are further behind us. Higher confidence will lead to a better-than-expected holiday shopping season as well.

While it seems counterintuitive, higher gasoline prices are actually helping restrain core inflation, ... With more money being spent for gasoline, consumers have fewer dollars left for discretionary purchases. The net result is that firms are slashing prices on everything from cars to beer in order to move product.

There was a huge sign of relief when the number came in above 100, and that's why the market rallied, ... There was a thought that the combination of rising interest rates and higher gas prices would knock it below 100.

it's somewhat surprising how resilient the economy has been, despite higher energy prices.

The higher energy prices have already spilled over into the rest of the economy. But it probably will not cause major problems for the economy.

The impact of stronger job growth more than overcomes the impact of higher mortgage rates. It doesn't mean we'll have a month like March every month. But home sales should remain strong even with mortgage rates about a percentage point above the low point.