Consumer Confidence: Does It Matter?
When the Conference Board releases its Consumer Confidence report this morning, will it really matter? I discussed this with CBS2 this morning and stressed that it's far more important to track what consumers do, rather than how they say they feel.
Still, consumers account for about two-thirds of the US economy, so it's essential that they participate in the recovery by spending. As the Bank of England essentially said, savers need to stop moaning and start spending. Don't expect the Fed to weigh in with the same gusto!
