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MNI INTERVIEW: Consumers Can Take Fed Hikes - Conference Board

(MNI) Washington
WASHINGTON (MNI)

Still elevated consumer confidence is argument against recessionary fears, Conference Board economist says.

American consumers are likely to be able to withstand a series of larger interest rate increases from the Federal Reserve without too much pain even as they will continue to lower their expectations for the economy and cool spending in coming quarters, Conference Board economist Lynn Franco told MNI.

"At least right now, we're not seeing any indications that would point towards a recession," she said about fresh Conference Board statistics on consumer confidence for April. "We will continue to see fluctuations, which is normal, but as long as we have strong labor market growth, we should be able to maintain these levels."

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American consumers are likely to be able to withstand a series of larger interest rate increases from the Federal Reserve without too much pain even as they will continue to lower their expectations for the economy and cool spending in coming quarters, Conference Board economist Lynn Franco told MNI.

"At least right now, we're not seeing any indications that would point towards a recession," she said about fresh Conference Board statistics on consumer confidence for April. "We will continue to see fluctuations, which is normal, but as long as we have strong labor market growth, we should be able to maintain these levels."

Keep reading...Show less