“Bank of America CEO Brian Moynihan said Wednesday that strong consumer spending so far this year means that the Federal Reserve will probably hold off on cutting its benchmark interest rate.”
Moynihan seems to concur, the Fed, especially the current Fed constantly pokes and prods and nudges the level of consumer spending.
Whatever the free market does, the Fed will decide “that’s right” or “that’s wrong” and then adopt policy to change it to their one and only centralized concept of what the free market should be doing.
Specifically if we begin to save too much and spend too little they get worried and start to change things.
