I think the general message here is that despite the fears about a low savings rate, the consumer continues to hang in there, and that's essentially the only thing that's going to keep the economy on track.

I think (Fed Chairman) Alan Greenspan has made it all but official, we'll get another rate cut in June, but my guess is a quarter point rate cut, principally because of what we're seeing on the inflation report. The CPI and PPI have been trending up over the last two years.

I think if you take those two things together, there is some hope.

They will need to pass that savings down to the consumer. Or we won't sell to them.

It is a genuine shocker... I don't think anyone anticipated a decline of this magnitude.

I think the Fed felt this was not the time to be cautious and conservative.