John Silvia Both Quotations

I think if you had $70 oil, and the Fed were to continue to raise interest rates to fight inflation, that could cause a problem, ... I think there's a certain breaking point where that the price of energy alone is so high that it changes the psychology of both businesses and consumers. I think $80 would probably break the back.

The outlook accounting for Katrina suggests growth will slow in both the third and fourth quarter due to slower consumer spending.