reports that our economy is not following the text book formula for recovery. Where there is some gain, the middle-class is the losing party, as any significant movement is not shared among the masses, and only the few see a better economic future. Giglio says, "One of the overlooked consequences of the Fed’s rounds of monetary stimulus and reducing interest rates is to rob hardworking, average American savers and retirees of income and spending power, because the interest they earn on their savings isn’t enough to keep up with inflation. This dramatically reduces their spending, which hurts businesses, leaving them unable to hire. Consumer spending is critically important because it accounts for more than 60 percent of the nation’s gross domestic product."