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So what? There is no reason why an average American worker should be concerned with the GDP.
by xkekjrktllss 3y ago
So what? There is no reason why an average American worker should be concerned with the GDP.
- prepend 3y agoThey would care because it’s an overall indicator of economic health and might affect perception of interest rates, interest rates will affect their credit card bill, and any new loans. It’s lot like they should watch it on a day to day level, but it’s part of basic financial literacy that every American worker should have.
- ThunderSizzle 3y agoInterest rates are based solely on the rate set by the Fed. Find me an interest rate not pegged to the Fed rate in some way, as opposed to GDP.
- prepend 3y agoOne of the major influencers on the Fed setting rate is GDP. I don’t think GDP is a direct factor to specific things in people’s lives. It’s a macro indicator. It’s still useful to know and relevant to our lives. Or maybe another way to say it is that there are many things directly relevant to our lives and they are all part of GDP.