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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Aug 10, 2011
Page
8
The Federal Reserve extends ultra low rates to mid 2013 and signals potential further bond purchases. Wall Street surges with the Dow up sharply, erasing much of the prior day’s losses amid a volatile trading session.
The volatile markets erode consumer confidence as 401(k) balances fall and oil prices doubtlessly lift costs. Analysts warn a negative feedback loop could trim 1.3 percent of spending next year and shave 0.5 percentage points from growth through 2012, risking a recession.
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