Spending it while we got it, and the FDA slaps down Cheerios

GOOD DAY FOR: Living for the moment, as more and more U.S. consumers are thawing their spending freeze amid signs that the economy is stabilizing—and to celebrate such things as surviving a round of layoffs. April saw the largest jump in consumer confidence in two years, and many economists see personal consumption starting to rise in July. (Bloomberg) Not yet, though. The Commerce Department reported that retail sales fell for a second straight month in April. (Reuters)

BAD DAY FOR: Cheerios, after the Food and Drug Administration ordered General Mills to stop claiming that the breakfast cereal can reduce cholesterol levels by 4 percent in six weeks. The FDA didn’t dispute the claim, but said that only drugs can list specific, measurable health benefits. If Cheerios wants to market itself as a cholesterol aid, it can submit its research to the FDA for rigorous scientific scrutiny. (The Washington Post)

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