Anthony Chan Weakness Quotations

It confirms the belief that the weakness in retail sales was the result of a bunker mentality in the wake of the terrible events of Sept. 11.

The overall weakness was so pervasive that it would be silly to completely dismiss the devastating weakness of this report.

The decline in the length of the average work week ... tells us this leading employment indicator does not foreshadow any immediate end to this general pattern of weakness in the labor market.

Although it's not particularly good news for the housing market, the fact that you're seeing weakness here shows that monetary policy is working and the (Fed) would not have to blunt the economy with more hikes than the market has been anticipating.

By telling us that the risks are more heavily weighed towards weakness while simultaneously stating that they expect an economic recovery within the next several calendar quarters, they are revealing that they remain willing to act if they need to while also reassuring financial markets that there is no need for panic over the near term.

The housing market is resilient, still going strong, but it would be a mistake to ignore the weakness in existing sales and assume everything is copasetic.