How Macro Economic Issues Affect Middle Class Americans

How economic issues affect AmericansThe stock market is humming along lately, but this is of course despite a few recent macro level economic hiccups. Thanks to the federal government and the shutdown the economy has continued to remain sluggish.

According to a report recently released by Standard & Poor’s, the government shutdown cost the United States $24 billion in lost production and growth. It took out $24 billion from the U.S. economy over the 16 day shutdown.

My Interview With Frank Trotter, President of Everbank Direct

In this episode of the Money Q&A podcast, “Your Money: Your Choices”, I interview Frank Trotter, the President of Everbank Direct, and we talk about how macro economic issues  affect everyday middle class Americans. Should you be concerned about quantitative easing or other Federal Reserve policies?

How do those decisions in Washington DC affect the rest of us? Will we ever see the return of a savings account that earns 4% annual rate of return or more. These questions and more are what I ask Frank Trotter of Everbank Direct. It is a great conversation about the economy and how large macro issues touch us all.

I asked Mr. Trotter about where quantitative easing comes into play. Is the average American concerned about quantitative easing? Should they be concerned about it?

“Well I think it’s interesting,” said Trotter. “You know Steve Forbes, when he gives talks sometimes says, ‘if you have a chatty neighbor on an airline and you want him to shut up, just say I’d like to talk about monetary policy’. And, I think it’s a really difficult topic, from a technical standpoint, to understand. So, I don’t know if people actually have a context even to understand it. We’re [Everbank Direct] concerned about it. Maybe it’ll work. Maybe it’ll be the dream scenario. It’s going to get us through, but it could be a disaster.”

Want to hear more about what Mr. Trotter had to say? Be sure to check out the rest of the podcast episode on iTunes.

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