Morning business headlines
Monday, August 05, 2013 11:12 AM
Boomers are most likely group to buy new cars
Baby Boomers - the 55 to 64 age group - are reversing the pattern of older consumers being less likely to buy new cars. They now are the demographic most likely to buy a new car. "You shouldn't be chasing the younger people; you should be looking at the older people," Michael Sivak, author of the study, said in an interview with Bloomberg.
Women economists favor Janet Yellen as new Fed chief
A CNN Money survey of the nation's top 100 female economists finds support for Janet Yellen, vice chairman of the Federal Reserve Board, to take over the top spot at the central bank. Yellen and Larry Summers, an Obama economic adviser, are being bandied about in the media as two top candidates for the job. Talking Biz News has a summary of some of the coverage of the two candidates.
Whom to believe on consumer spending?
A Gallup Poll released today shows that consumer spending has basically remained flat since March, contradicting several other consumer confidence indexes, which have suggested spending has become buoyant in recent months. CNBC News has this report.