With the Fed reducing interest rates and Congress asking not whether to cut taxes, but by how much, Schunk and other economists believe confidence will rebound, preventing the economy from sinking into a recession. Already, there are some indications they may be right. In January, retail sales increased 0.7 percent over last year. We should see relatively strong growth over the next year or two. Peper doesn't know about that, but he does know that after a dismal fourth quarter, business has begun to warm up right along with the weather thus far in February.
People feel more comfortable with the economy, and groups are booking at a good pace.