While millions of families across America gathered at their dinner tables for their Thanksgiving dinner, thousands of savvy shoppers were waiting in line for Black Friday deals. Chaotic scenes unfolded in malls across the country as people got a head start on their Christmas shopping, trying to land the best deals. Thousands of people lined up outside of Macy's Herald Square location in New York City, braving the cold as they waited for employees to open the doors at 5pm. The unofficial holiday has even extended overseas in countries like Brazil, where customers nearly fought to get their hands on the latest Samsung TV's on Thursday. Since 2005, Black Friday has been the busiest shopping day of the year in the United States.
This week’s two-day policy meeting could mark the formal end of the “accommodative” level of rates the Fed has used to support the American economy since the onset of the 2007-2009 recession.
The Fed’s current policy statement has included that description of loose policy as a staple element in recent years, though officials recently have described it as out of date and likely to be removed, either this week or in the near future.
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