‘Squeezing more life out of every dollar’: How inflation is forcing a new
reality on American families and amplifying the economy’s ‘K shape’
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Higher consumer prices are reining in spending among lower- and
middle-income consumers, Fed’s beige book reports.
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Bernanke could use his speech not only to lay out monetary options but also be the "warm-up" act for President Barack Obama 's unveiling of his jobs package in September . He could convince politicians they must join in lifting growth.
ReplyDelete"Anything beyond this would run the risk of the Fed building another costly bridge to nowhere." El-Erian said in an economics blog on Thursday.
(Editing by Leslie Adler)