Wealth Consulting Group CEO on State of Economy Following March Jobs Report
Wealth Consulting Group CEO Jimmy Lee joined Cheddar News this week to discuss the state of the economy after the Labor Department's March jobs report. The update showed that hiring slowed last month but according to Lee, the economy is still strong. "The consumer is still spending," he said. "We're starting to see some of the effects of higher interest rates and its going to hit earning a little bit for stocks but I think that it's going to be until probably summer time when the consumer really gets tested."
Apple posted better-than-expected profit and revenue in the latest quarter but said sales dropped for the fourth straight quarter, including a drop in revenue for iPads and iMacs.
The Federal Trade Commission is accusing Amazon of using an algorithm to raise prices for some of its products, thereby causing other shopping sites to do the same.
