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Behind the Numbers

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Some slowing of consumer spending may actually be a positive sign according to Stuart Schweitzer, global market strategist with JPMorgan Private Bank. In a June interview on PBS’s Nightly Business Report, he said people have been overly optimistic “That optimism has actually created risk for the market because people haven’t been cautious enough. It’s not so much that the economy is all that bad,” he noted. “It’s that peoples’ expectations for the economy have been too high. So, to me, part of what’s happening now is a readjustment of expectations downward and as expectations come down, I think that’s actually better news for the market going forward.”