Politics and Government
Fox News reportsconsumer spending rose less-than-expected in May.
When adjusted for inflation, consumer spending fell for a second straight month, suggesting spending this quarter could struggle to regain momentum after growing at its slowest pace in nearly five years in the first quarter.
At Chron, Martin Crutsinger writesconsumer spending in May was disappointingly weak.
BBC reports the U.S. GDP shrank at a 2.9% rate in the first quarter.
On Bloomberg, Jim Grant criticizes Fed policy and quantitative easing.
From Forbes.com, John Tamny writes“bubble” is the mythical default adjective used by lazy pundits.
From Bloomberg, Leonid Bershidsky saysthe U.S. shouldn’t weaponize the dollar.
FT Portfolio’s believesthe U.S. is in no danger of losing its reserve currency status.
At TGSN, Ralph Benko recountsthe legend of Dido and her gold treasure.