September 04, 2014

Caucus speaker Jason Furman opines on millennials

Sept. 4, 2014 – White House Council of Economic Advisers Chairman Jason Furman, who will speak before NAFCU's Congressional Caucus next week, was quoted in a National Journal piece Wednesday on 2013 research into the spending habits and attitudes of millennials.

The research, published by the Boston Consulting Group as the Survey of U.S. Millennials' Saving and Spending Intentions, shows millennials' spending patterns differ from those of previous generations. This group of individuals, born after 1980, would rather "throw cash at new experiences and adventures and to reward socially responsible companies that they can connect with and that they deem as authentic."

That may be true, but the piece also quotes Furman noting at a July housing forum that such differences may be driven by the economic times during which millennials came of age.

The National Journal piece, pulling from research published by Scratch, a division of Viacom, also says, "If there is one industry that millennials particularly dislike, it's the big banks."

NAFCU's Congressional Caucus takes place Sept. 9-12 at the Mayflower Renaissance Hotel; Furman is scheduled to speak Sept. 11. Registration is open to NAFCU members and nonmembers.