Federal Reserve
The U.S. Economy was affected in many ways by the numerous tax rate cuts; the affects include the stock market, manufacturing, retail sales, unemployment, U.S. consumer confidence, and rumors of wars. The Fed’s goal is to make money more available to consumers, who drive two-thirds of America’s economy, and keep them spending. Most economists think the terrorist attacks of September 11, pushed the U.S. Economy, already weak after a year-long slowdown in spending by businesses, into a recession. “The terrorist attacks have significantly heightened uncertainty in an economy that was already weak,” the Fed statement said. “Business and household spending as a consequence are being further damped.” Recent data hinted that the beleaguered manufacturing sector, which has borne the brunt of a year-long slowdown in the general economy, was beginning to recover before the attacks. But there have also been signs that consumer confidence was beginning to wane before the attacks, and it has certainly done so in the days since. (Cnnmoney,10/02/01) One may question if the Fed’s policy moves are effective any more. After all, it would seem that nine rate cuts in a year would at least have had an impact on stock prices, whic
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Some common words found in the essay are:
, Economic Advisors, Federal Reserve, GDP Retail, Bush Congress, Automobile Association, Steven Wieting, stock market, Joel Naroff, terrorist attacks, production fell, Smith Barney, consumer spending, consumer confidence, macleans 9/16/02, auto sales, manufacturing sector, economy weak, year-long slowdown,
Approximate Word count = 910
Approximate Pages = 4 (250 words per page double spaced)
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