The Fed's policy-making wing Wednesday released minutes of its January meeting, which said members were concerned that the conclusion of the payroll-tax holiday would put pressure on consumers.
Internal Wal-Mart emails obtained by Bloomberg News last week revealed that the global retail giant suffered in February its worst start to a month in sales in seven years. The emails revealed that the payroll tax cut that expired at the end of 2012 played a big role in lower revenue."In case you haven't seen a sales report these days, February MTD sales are a total disaster," Jerry Murray, Wal-Mart's vice president of finance and logistics, wrote in one email. Murray was referring to month-to-date sales. "The worst start to a month I have seen in my seven years with the company." The Fed's remark about the payroll tax came in a sentence crammed between commentary about upbeat holiday shopping and the ongoing housing recovery. Click through for the full text of the latest Federal Open Market Committee meeting. -- Written by Joe Deaux in New York. >Contact by Email. Follow @JoeDeaux
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts