Decline in consumer delinquency might prompt Fed to act

05/28/2010 | Bloomberg

American Express, Bank of America and other lenders have seen their consumer-delinquency rate decline, which might lead to more loans and an increase in economic growth. Economist Stephen Stanley said the development might weaken the Federal Reserve's commitment to keep interest rates low for an "extended period," at least once the European sovereign-debt crisis is no longer seen as a threat.

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