“If the Fed gets this wrong here, I mean if [rate increases are] off by six months or a year, is there real danger to the economy? There could be.” – Federal Reserve Bank of Philadelphia President Charles Plosser

Did you Know?

“Tuition and fees have risen 538% since 1985, outpacing the CPI by over 400%. According to the Federal Reserve Bank of New York, the number of student loan borrowers increased 70% from 2004 to 2012. Now more than 70% of students graduate with loans and outstanding student loan debt totals $1.2 trillion—more than auto and credit card debt. Though it’s difficult to pinpoint the link, some researchers are already finding hints of a drag on the overall economy.” – Forbes

What We’re Reading:

How far will $100 go in your state? (Tax Foundation)
Investors Pour Into Vanguard, Eschewing Stock Pickers
Computer chips coming to your credit cards soon. (WSJ)
Americans Pay Too Much for Bad Data Plans (Bloomberg)
Germany Set to Issue Bonds at 0% as Investors Seek Refuge (MoneyBeat)
West’s historic drought stokes fears of water crisis (Washington Post)
Silicon Valley Is Ruining “Sharing” for Everybody (New Republic)