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Don’t Believe the Fed; the U.S. Consumer Is Far from Strong

Thursday, September 22, 2016 12:18
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(Before It's News)

Don’t Believe the Fed; the U.S. Consumer Is Far from Strong

By Pam Martens and Russ Martens: September 22, 2016 Yesterday the Federal Open Market Committee (FOMC) of the Federal Reserve released its policy statement, which included its announcement to stand pat on interest rates at this meeting. The third sentence of this policy statement went like this: “Household spending has been growing strongly….” To use the parlance of Wall Street, the Fed was putting lipstick on a pig. The average American might read that statement … Continue reading

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