–  But that is also the time when you are least able to give definitive guidance. Communication is a double edged sword. It can lead to wrong interpretations and unintended consequences. Recent statements from the US Fed on tapering of the QE. Communication should not be one way. We should also listen. •  Town Hall Meetings (at least once every year.
At the same time, we noted that domestic spending appears to have been more robust than we had anticipated - that means that the economy has still been growing strongly. Household spending appears to have remained high, and house sales and construction activity have been very buoyant.