Telis Demos

speaker

656 appearances 10 recordings 1 series first heard Jun 2018 last heard Dec 2024

Telis Demos’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Consumer Credit Card Use Isn't Growing, and Banks Are Worried · 1 Nov 2019 podcast

And you might see some weakness in their spending. voice-verified

And we've seen that a little bit in their borrowing and other activities like M&A, where companies just aren't really being as aggressive as they might otherwise be, given the voice-verified

you know, pretty decent U.S. voice-verified

economy. voice-verified

Businesses have been talking about, like, for example, you know, Citigroup CEO Michael Corbett has talked for a long time about that the biggest risk to the economy is that we talk ourselves into a recession. voice-verified

And what he means by that is that, like, if you look at what's actually kind of underneath the machinery, underneath the economy, it's actually pretty decent. voice-verified

But they're just all these things that seem and feel risky to people. voice-verified

And so people stop making investment decisions because they just feel risk rather than that they're actually seeing that risk. voice-verified

pull through in their businesses. voice-verified

They're not actually seeing that on the ground. voice-verified

They're just feeling like that. voice-verified

So I think businesses are a little frustrated that they have in front of them, you know, the stock market continues to go up, the economy continues to expand. voice-verified

So rates low are good for them because they should be able to borrow and invest and things like that. voice-verified

But there just is this kind of anxiety and this lack of enthusiasm about big investments that businesses feel like are holding them back. voice-verified

Consumers really have been the strongest part of the economy for much of this year. voice-verified

The third quarter GDP numbers, some people say that almost the entirety of that growth came from the consumer and from growing government spending. voice-verified

So, really, it's not so much is the consumer hurting, it's just is the consumer going to be quite as ebullient as they have been. voice-verified

And so it's worth looking at anything that indicates that consumers are just a little bit maybe less willing to stretch and extend and continue to buy and spend and improve their house and things like that. voice-verified

One interesting measure, too, has been that consumers have refinanced a lot of their debt. voice-verified

So when rates dropped, people refinanced their mortgages. voice-verified

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