A Consumer Credit Report Accounts For The Dollar Value Of Consumer Debt

830 Words May 23rd, 2016 4 Pages
A Consumer Credit report accounts for the dollar value of consumer debt, which includes short-term loans such as, credit card use, as well as long-term loans such as, loans for vehicles and education. The Federal Reserve’s consumer credit report shows the annual, quarterly, and monthly spending of consumers in the U.S. It takes into account all bank interest rates that affect borrowing and spending of the consumers. The targeted audience for the Federal Reserve’s report can specifically be to policy makers, including Economists and regular businesses, as they will review the report monthly to make changes that positively contribute to the economy. For the report to be successful, it must include statistical information in a table format to represent the consumer spending patterns that will be used by the targeted audiences for other purposes. The data shown on the report is detailed and the audiences need not require additional economic knowledge to read it.

Secondly, a well-used indicator of inflation, which you all must be familiar with is the Consumer Price Index. It measures the average change over time in the prices paid by consumers for a basket of goods and services. Every month, the Bureau of Labor Statistics of the Department of Labor releases a detailed report of over a hundred pages, to show consumption and spending patterns of urban consumers. Each report, carefully analyzes an urban consumer’s average monthly spending patterns on a basket of selected goods and…

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