Wednesday, April 29, 2015
Fed Expects Moderate Growth, Blaming Weather for Slowdown
The Federal Reserve announced that they expect economic growth to increase from last quarter, and that implies the interest rate benchmark will also increase. This year the economy has reportedly expanded by .2% the reason for the low expansion is decreased improvement in the labor markets and lower than desirable inflation rate. The Fed also blamed the winter weather for this low rate.
http://www.nytimes.com/2015/04/30/business/economy/federal-reserve-meeting-interest-rates.html?ref=business
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The harsh winter we had may have played in to the slow growth however I think it is not soley to blame. We have experienced harsher weather consistently over the years and it should be no suprise when it gets worse from the previous year.
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