by Mike ‘Mish’ Shedlock
Mish Talk
Since December, the Fed has gone from pricing in four hikes to two. But that’s not the only thing that has changed.
Consumer views regarding earnings expectations are down. So are their views about the stock market.
Most importantly, consumers are more worried about the jobs than they were in December. This is despite continued payroll growth and a falling unemployment rate.
Perhaps consumers don’t believe the numbers.