I think all eyes are on the economy and the Fed is trying to engineer a soft landing.

We are really on track for a soft landing. There are no balloons popping.

We suspect that if the economy remains as soft as it has been lately, the Fed may very well decide a break is in order somewhere along the way.

What we have here is still the soft-landing scenario we've been predicting over this year. I suspect the increase we have in this report is an aberration because of the weather.

It's not an environment to be seriously thinking about cutting interest rates. The economy is going through a soft landing, rather than a hard one. Inflationary pressures probably won't have much chance to dissipate.

I'd like to see a summer rally. I guess there's no guarantee. But overall, I think we're still pretty bullish. The economy is still very strong, and global growth continues to be pretty solid, and the companies that we focus on I think can do well, even if we see some moderate slowdown in the economy.