Uncertainty Keeping Businesses From Spending and That May Not Change Soon

Businesses may remain cautious on spending and investment for some time, says Martin Barnes, Chief Economist of BCA Research. He believes uncertainty both in the U.S. and abroad has resulted in businesses adopting a bunker mentality. Barnes expressed concern about the U.S. presidential election and what will happen with trade policy. On another matter, Barnes believes there are limits to how much monetary policy can improve things like business confidence, and he thinks the Federal Reserve should move in September and get it over with. Barnes spoke with TheStreet's Rhonda Schaffler at Camp Kotok, an annual retreat of economists held in Grand Lake Stream, Maine.