Free Republic

Martin Crutsinger has been a business and economics writer at the Associated Press for over three decades. Certain people in high places apparently hold him in high regard. In early 2014, on his 30th anniversary with the wire service, he is said to have received congratulatory letters from soon-to-be Federal Reserve chair Janet Yellen, soon-to-be-former chair Ben Bernanke and Obama administration Treasury Secretary Jack Lew, which he clearly enjoyed as those in attendance munched on a very delicious-looking cake. We can't know whether the congrats from those heavy hitters merely marked a career milestone, or if they included an element...

Consumer spending fell for a record sixth straight month in December as recession-battered households, worried about surging layoffs, boosted their savings rates to the highest level since May.

WASHINGTON (AP) -- Consumers boosted their spending in July by the largest amount in six months, offering hope that the current economic slowdown may not be as severe as some had feared. The Commerce Department reported that spending rose by a healthy 0.8 percent last month, double the 0.4 percent gain in June. Incomes also were up, rising by 0.5 percent in July, reflecting stronger wage growth. A gauge of inflation tied to spending showed that consumer prices, excluding energy and food, have risen by 2.4 percent over the past 12 months, the fastest rate of increase in nearly four...