Brentwood Group sources are reportedly witnessing increased calls for interest rate cuts from the US Federal Reserve to boost the economy.
Recent worse-than-expected US retail sales figures showing a 1.2% decline in the month of September prompted a 700 point fall in the DJIA as investors focused on the inevitability of a US recession.
Brentwood Group are thought to believe that interest rate cuts are unlikely to feed through to the consumer with enough potency to stimulate spending.
A source close to Brentwood Group suggested that the key to arresting the decline in consumer spending lay in the housing market which largely underpinned the boom in US consumer spending before it began its correction 2 years ago.
Brentwood Group sources are thought to expect US unemployment to continue to rise as corporations trim overheads to weather the overall slowdown.
