Economics in "The Wall Street Journal"

Paper Summary:

This paper examines five articles taken from "The Wall Street Journal". Each article discusses one of the following economic topics: the consumer confidence index; the impact of interest rates on the stock market; the federal funds rate and the cost of economic development.

From the Paper:

"The consumer confidence index rose in June 2004 to 101.9, its highest point in two years. Some feared consumer spending would decrease, as tax cuts were spent and interest rates continued to rise. Economists contribute the high to wage increases and perceived job stability. Despite these facts, consumer purchases of big-ticket items, such as automobiles, have decreased. Even the major retailers Target Corporation and Wal-Mart Stores, Inc. have reported June sales below expectations. Economists speculate that increased gasoline prices and interest rates are to blame. The consumer confidence index, which began in 1985 measures consumer opinion of current economic conditions (40% of the index) and future expectations (60%) (McWhinney, 2005, para. 5). "

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