The Stocks Will Be Fine, Americans Reckon

The stocks will be fine. If the whole world burns -- I don't know why I say "if," as though it's not already ablaze -- US equities will somehow come away from the inferno unblemished. That's not quite what Americans polled by the New York Fed for the latest edition of the bank's monthly consumer survey said, when queried on the outlook for Wall Street, but it'll work as a humorous encapsulation. As the figure below shows, stock price expectations jumped. The mean perceived probability that equ