Personal Income and Spending
Personal Income and Spending provide markets with a more more comprehensive view of their specific categories than older versions of the same information.
Personal Income includes wages and salaries, interest, dividends, rent, workers compensation, proprietors earnings and government transfer payments. That is much longer list, and a more accurate representation of household finances than the Average Hourly Earnings statistic of the payroll report.
Yet from a market perspective the difference is in degree and not in kind. Personal Income does not provide different information nor does it stray from the direction of wages. Its additional accounting may make consumer spending more understandable even in weak labor markets but for most people their income is still largely wages.
Mohan Guruswamy | Biden’s real challenge is to fix America’s finances
Published Jan 27, 2021, 7:22 am IST
Updated Jan 27, 2021, 7:22 am IST
The American crisis began unfolding when Richard Nixon disengaged the US dollar from the gold standard
US President Joe Biden with Vice President Kamala Harris (L) signs a a Made in America Executive Order, to increase the amount of federal spending that goes to American companies in the South Court Auditorium at the White House on January 25, 2021 in Washington, DC. (JIM Watson / AFP)
Thomas L. Friedman is a
New York Times columnist and three-time Pulitzer Prize winner and is possibly the world’s foremost globalisation evangelist. A kind of Billy Graham of globalisation. His first book
The Federal Open Market Committee is all but certain to hold interest rates near zero at the conclusion of its two-day policy meeting on Wednesday, and repeat a vow to keep buying bonds at the current $120 billion monthly pace.