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Consumer Borrowing Posts Weakest Growth in 8 Months

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  • Description

    FBN’s Robert Gray on consumer credit rising less than forecast in June.

  • Duration 0:49
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I'm Robert -- -- -- Fox Business -- consumer borrowing in June posted its weakest growth in eight months another sign of consumer caution.

Credit grew by six point 46 billion dollars that's well below the eleven billion that Wall Street was looking for.

It also climb slightly less in May than originally reported.

The president of the Federal Reserve Bank of Boston is calling on the Fed to take more action to help stimulate the US economy.

Eric -- and says the Central Bank should launched an aggressive open ended bond buying program until economic growth picks up and unemployment starts to fall.

Its shares of Pfizer and Johnson & Johnson are under pressure today the two companies announcing their scrapping studies on an alzheimer's drug.

Both say the drug failed to help patients came too late stage clinical trials.

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