Federal reserve. And people dont see this, i dont think, as a major, major shift in terms of what the fed will do. Just it is losing a key academic and experienced and wise voice on the federal reserve, but there are a lot of economists and noneconomists out there that President Trump can now choose from. And this fischer wasconsidered more of a democrat choice. And, in fact, i remember when the big fed decision came due for president obama, it was between Larry Summers and janet yellen and one of the dark horses was actually stan fischer himself, he was not willing to give up his citizenship to israel, but he was considered once the giant of central banking, still is still may make his policies known, even if hes not the vice chairman of the federal reserve. But as far as any policy implications, i wouldnt expect anything to change hes been at a number of meetings over the last two years and made his voice very clear. Im sure a lot of folks from the board will continue to heed his adv
Monday morning, lets get into the bank rate study be at 50 , those one eels 1829 dont have a credit card. By comparison 35 of people older than 30 dont have a credit card. I want to look on the good side of this for a second, i think that is a positive for america mamaybe thrift is back, maybe te idea you borrow a ton of money and spend it crazily is out. I think that is a good thing, dont you . Charles that is a good thing with limits. If everybody were to buckle down and not spend money, we wouldnt have any advertising advertising on the show. I will tell you though this is not just the millennials, america took a huge shot. July 2008 the outstanding credit cards over a trillion dollars. Right now 873 alien so were still almost 200 billion away from the peak. A lot of people go and spend debit. They will spend every nic nickel they have on debit. If you go too long without establishing credit history, one day you want to buy a house or a car and found out i have money in the bank, bu