NAFCU Expects Consumer Spending ToContinue To Thrive
ARLINGTON, Va. - (11/12/04) The Federal Reserves decision toraise rates likely wont have a major impact on consumerlending and spending activity, according to NAFCU Economist JeffTaylor. The retail sales numbers will be out later thisweek, and theyre expected to be pretty good, he said.And I think were in for a relatively strong holidayshopping season, so I dont think the Fed action will have asignificant impact on lending. While consumer confidencenumbers have been all over the map, consumer spending has beenpretty consistent, Taylor suggested. I think if you have ajob, and youre confident that youre going to keepthat job, then youre going to keep spending, hesaid.