Lonski Says Personal Income Drop May Signal Fed Rate Cut
- 04:39:37
- Bloomberg
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Lonski Says Personal Income Drop May Signal Fed Rate Cut
John Lonski, chief economist at Moody's Investors Service Inc., talks with Bloomberg's Betty Liu from New York about U.S. personal income and spending data released today, and outlook for the economy and Federal Reserve monetary policy. Spending by U.S. consumers slowed in July as the impact of the tax rebates faded and a pickup in inflation eroded Americans' buying power. Incomes dropped 0.7 percent, the first decrease since August 2005, reflecting the end of the rebates. (Source: Bloomberg)
Bloomberg | August 29, 2008
