from Lakshman Achuthan, Co-Founder and Chief Operations Officer of ECRI
The Fed may welcome higher inflation, but it is important not to forget what inflation does to real wage growth - which is what folks on Main Street depend on. Inflation eats away at wages, and as a result, real wage growth has been declining since last fall.
Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary 'reading list' which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for 'reading list' items are gratefully reviewed, although sometimes space limits the number included.
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from the Chicago Fed
-- this post authored by Sumit Agarwal, Tal Gross, and Bhashkar Mazumder
The sharp decline in the U.S. economy that began in 2007, commonly referred to as the Great Recession, made it very difficult for many Americans to borrow. According to the Senior Loan Officer Survey conducted by the Board of Governors of the Federal Reserve System, banks across the country dramatically tightened credit card standards during the first two years of the Great Recession. From 2008 to 2010, the average number of credit cards per person fell from roughly 2.2 to 1.7, and the total limit on all credit card balances fell from around $25,000 to $21,000.
Infographic Of The Day: Best Bike Cities In The US
Seattleites looking to hop on their bikes for National Bike to Work Week are in luck: The city ranks as the No. 1 bike city in the U.S. followed by Portland and San Francisco, according to a Zillow analysis.
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from Dirk Ehnts, Econoblog101
This is from his article at Project Syndicate:
by Peter Krauth, Money Morning
Special Report from Money Morning
Back in March, I recommended a broad play on platinum that's returned 56% more than the S&P 500 over the same period.
27May2016 Market Close: Wall Street Closed Higher, DOW Up 45 Points, WTI Crude Testing High 49's, Th
27May2016 Market Update: Yellen's Speech Does Little To Move The Major Averages One Way Or The Other
27May2016 Pre-Market Commentary: Futures Fractionally Higher, WTI Crude Trading Below $50, GDP Comes
ECRI's WLI Growth Index which forecasts economic growth six months forward expanded marginally and remains in positive territory for the ninth week - after spending the previous 34 consecutive weeks in negative territory.