NFCU's Frick: Nervous consumers 'are missing the big picture'

Robert Frick, corporate economist at Navy Federal Credit Union, says that nervous investors are worried about numbers that are much more solid than they appear in headlines. Frick notes that retail sales, for example, could come down 5 percent from current levels and they'd still be booming. He sees strong economic growth even as the headline numbers start to reflect the movement from recovery mode to pre-pandemic normals. Also on the show, Adam Rozencwagj of Goehring and Rozencwajg says that a decade-long bear market in commodities has ended and that there are strong signs for a bull market ahead, helped along by the localized supply shortages arising from the pandemic. And Jeffrey Hirsch, editor-in-chief of Stock Traders' Almanac, says that the stock market is likely to see heightened volatility but mostly sideways movement through the fall.