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ADVISORY COUNCILS, FEDERAL RESERVE SYSTEM: Three support committees that provide feedback to the Board of Governors of the Federal Reserve System to assist in its assorted regulatory responsibilities, including Federal Advisory Council, Thrift Institutions Advisory Council, and Consumer Advisory Council. The Federal Advisory Council is a broad ranging council comprise of commercial bankers. The Thrift Institutions Advisory Council is comprised of representatives of thrift institutions. The Consumer Advisory Council is comprised of consumer credit representatives.

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PHYSICAL WEALTH, AGGREGATE EXPENDITURES DETERMINANT

One of several specific aggregate expenditures determinants assumed constant when the aggregate expenditures line is constructed, and that shifts the aggregate expenditures line when it changes. A decrease in physical wealth causes an increase (upward shift) of the aggregate expenditures line. An increase in physical wealth causes a decrease (downward shift) of the aggregate expenditures line. Other notable aggregate expenditures determinants include consumer confidence, federal deficit, inflationary expectations, and exchange rates.

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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either a replacement washer for your kitchen faucet or a stretchable, flexible watch band. Be on the lookout for mail order catalogs with hidden messages.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
"Difficulty is the excuse history never accepts. "

-- Edward R. Murrow, News broadcaster

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