Their number is in the right ballpark. It could have a substantial effect potentially.

Profits will probably still decline in the second quarter, but at a slower rate than in the first quarter.

The more important development more recently was the tax cut that was enacted over the weekend, which will provide some pretty good support for consumer spending over the next few quarters.

We're headed to around 6.5 percent sometime in the first half of next year.

This is one of the more surprising moves the Fed has made in a long time. I'm a little bit puzzled by this.

There's a lot of uncertainty about the outlook. There are a lot of risks, mainly downside risks.