George Saravelos: deferred spending

The Global Head of Foreign Exchange Research at Deutsche Bank perceives that US consumers are starting to defer spending — despite the huge piles of M2 on which this conversation has recently focused. This is a credible and important alternative view. By the end of February, data should clarify any ambivalence. The interview with Saravelos begins at the 1:11:09 mark and continues for about eight minutes.

Embedding video has not worked. Please access this hyperlink for Bloomberg Surveillance, January 21.