June 1, 2015
ONE OF THE WAYS YOU CAN TELL THE FEDS ARE OVERSTATING INFLATION:
Americans are savers now. It's a problem for the economy (Patrick Gillespie, 6/01/15, CNNMoney)
People in the U.S. spent less in April than they did in March, according to the latest data from the Commerce Department. It's hardly a new trend. Americans have been hesitant to buy much at the store or elsewhere for months.Instead, they have been increasing their savings. The annual savings rate, now 5.6%, is higher than it was a year ago, and significantly higher than the pre-recession norm of around 3%, according to the Federal Reserve.
That same dollar will buy you more tomorrow than today.
Posted by Orrin Judd at June 1, 2015 1:28 PM
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