Looks like the Fed (Federal Reserve, chaired now by Ben Bernanke, who took over for Alan Greenspan, arguably “the most powerful man in the US”), is waiting to see how retail holiday sales go before deciding on whether to hike federal interest rates, so folks, maybe we should be spending with reckless abandon this holiday season?
Just kidding!! No, please still watch your spending this holiday season – you do not need to buy everyone the world, trust me they’ll still love you. But seriously, the Federal Reserve is relying on a few things right now to determine the direction that federal interest rates will be going for the new year, and high up on that list of determining factors will be retail spending.
After this recent election, financial analysts say “Wall Street” is still taking in the results and trying to see whether this boosts consumer confidence or not. Call me crazy, but my consumer confidence remains pretty much the same year round, depending on how much Uncle
Sam has determined may stay in my pockets as opposed to going toward taxes or something other than annual salary increases for me!