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economy. These positive turns to the economy could be directly linked to the technological advances that boosted the growth rate of production potential [3]. Though there had been several positives being witnessed in 2000 the economy did show signs that the growth in household spending slowed considerably since 1999...
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Some members of the Federal Open Market Committee (FOMC) believe that this slowing was a temporary pause before it rebounds again later in the year. Others attribute the slowing of consumer spending to the reduction of wealth through the spring and summer months. Another factor for the slowdown in spending could have been due to the rising debt that has been burdening households during the 2000 calendar year...
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The Federal Reserve Policy from 1999 to the Present:
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