Time for "Word on the Street " and our look at the day ahead. Peter Kenny is Managing Director of Jefferies and Company. On this morning's "Squawk On The Street," Kenny basically said he was "down" on the economy.
He told Mark Haines--the overall U.S. economy is in a slowdown in some sectors. Inflation is running slightly above the comfort zone for Fed Chief Ben Bernanke and he's not surprised to see the market adjust-- especially since it's hitting historic levels.
The bottom line: Kenny is cautious.
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