The Chairman of U. S. Federal Reserve, Ben S. Bernanke, is hopeful that increasing wages will lead to an increase in the consumer spending in the coming quarters. But a slower than expected growth in jobs has decreased consumer confidence across the country.
Treasury Secretary, Timothy F. Geithner has also stressed that the Government will be proceeding with new legislation that is intended to ensure that the mortgage and economic crisis that took place earlier are not repeated.
He will also be heading a new committee, which will work to ensure that the system is improved and lawmakers will also be throwing more clarity on these rules and their overall impact. It will also make it easier to avoid the earlier mistakes that led to crisis.
Experts feel that regulators need to ensure that the people and investors will have more confidence in the market and it will also increase investor confidence.
Even though there is still a long way for the U. S. economy to go, Federal Reserve Chairman feels that increasing demand from households and business will aid the process of economic recovery. He also pointed that the Federal Reserve is supporting the economy by providing supportive policies.
Experts also feel that the Federal Reserve will be taking steps to reduce unemployment at its next meeting. They also point that consumer is also likely to increase in the coming quarters.
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