Economy Slows Down; Rates not Likely to Change
Reports gathered from the Federal Reserve Bank's 12 regional banks indicate that the economy slowed down during the spring and early summer periods.
However, analysts predict this, combined with a projected slower pace in the late summer/early fall, will not be enough to convince the Fed to increase the interest rate.
During June and July, the Fed specifically recorded slower pace in consumer spending, manufacturing and construction.
This report comes on the heels of a story published yesterday on AccountingWeb in which American productivity increased just over 5 percent.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.