At yesterday’s FOMC meeting the US Federal Reserve kept its target rate at between 1.75 and 2.00 per cent, as widely expected. In the comments accompanying the decision they noted that the labour market ‘continued to strengthen’, ‘economic activity has been rising at a strong rate’, plus household spending and business fixed investment have ‘grown strongly’. As the cynical Zero Hedge website points out: if this is the case, why is homelessness and people sleeping in their cars soaring?
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