Minutes of the Federal Open Market Committee April 28–29, 2015 – Release Date May 20, 2015 – 2:00 EDT

http://www.federalreserve.gov/monetarypolicy/files/fomcminutes20150429.pdf

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4 Responses to Minutes of the Federal Open Market Committee April 28–29, 2015 – Release Date May 20, 2015 – 2:00 EDT

  1. Richard Walrath says:

    Consumer spending makes up nearly 70% of the economy. The rich already have everything they could possibly want or need, and there aren’t that many of them. The rest of us do our best to scrape by which means consumer spending is not going to grow verymuch. Increased savings by the rich don’t help the economy.

    Date: Wed, 20 May 2015 19:03:37 +0000 To: walrath@articlesandanswers.com

    • Let’s begin all over again, Consumer Spending for the 1st quarter of 2015 was $11,173.1 billion, which is a historical high, so you really can’t say that consumers aren’t spending enough, can you?

      Wages may lag behind, but they are gradually increasing. Wages in March of 2015 (last month reported) were 3.84 percent higher than wages in March 2014.

      Consumer spending makes up a good portion of the economy, but it’s not the spending that’s the problem right now, it’s the other factors. Both imports and exports were down considerably, due to a combination of weather, and the labor disputes on the West Coast, but both those factors are history. Business investment on equipment, etc., was down and Government spending was also down.

      You add all that together and it makes for a limp economy, but the fact is it’s not a permanent condition. Imports and exports will get back on track and sooner or later businesses will start replacing fixed assets.

      What I’m curious about is why you are saying “increased savings by the rich don’t help the economy”. What makes you think it’s the rich that are doing the saving?

      My own personal opinion is we’re looking good and it’s just a matter of time before we start looking really good!

  2. Didn’t I hear the savings rate had gone up considerably? If that’s true then it’s not they don’t have the money. It may be people are just very concerned about the future and are finally trying to save for that rainy day which appears closer and closer the longer the Republicans are in charge of the purse strings.

    I started an article a while ago that I never got around to finishing, but based on the numbers we actually only require 107,000 – 110,000 (can’t remember exactly) new jobs in order to stay even with the number of new people entering the workforce each month.

    If businesses would start spending their money instead of hoarding it, this country would be in excellent financial condition.

    Vote Democratic! 🙂

  3. Richard W. Walrath says:

    Early betting this year was for an increase in interest rates, probably by June, if not before. It doesn’t look that way anymore, thanks to a miserably cold winter causing a slight contraction in the economy. Jobs continue to increase at a brisk pace, but wages continue to lag behind.
    Consumers are not spending enough to boost the economy for the simple reason they just
    don’t have the money.

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