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Fed report shows widespread signs growth easing
yahoo ruetrrs ^ | September 8, 2010, 2:38 pm EDT

Posted on 09/08/2010 1:18:26 PM PDT by BenLurkin

The economy has shown "widespread signs" of slowing over recent weeks, the Federal Reserve said on Wednesday in a report suggesting the recovery was faltering along the East Coast and in the Midwest.

The Fed said in its Beige Book compilation of anecdotal reports that modest growth was the most common characterization of economic activity in Fed districts, primarily those in the western and middle portions of the country such as San Francisco, Dallas and Kansas City.

However, other areas, including New York, Philadelphia and Chicago, reported economic growth was mixed or had slowed.

Upward price pressures remain quite limited for most categories of goods and services and wage pressures were also subdued, the Fed said.

"The reports suggested ample supply of qualified applicants for open positions," the Beige Book said.

Markets paid the report scant notice as it was seen as confirming that the recovery had flagged over the summer.

On balance, consumer spending appeared to increase although shoppers were limiting themselves to essential items, the Fed said.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy
KEYWORDS:

1 posted on 09/08/2010 1:18:28 PM PDT by BenLurkin
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To: BenLurkin

Epic F-A-I-L!


2 posted on 09/08/2010 1:20:34 PM PDT by broken_arrow1 (I regret that I have but one life to give for my country - Nathan Hale "Patriot")
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To: BenLurkin

unexpected


3 posted on 09/08/2010 1:20:38 PM PDT by Erik Latranyi (Too many conservatives urge retreat when the war of politics doesn't go their way.)
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To: BenLurkin

Does this mean interest rates will stay low?


4 posted on 09/08/2010 1:22:03 PM PDT by freespirited
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To: BenLurkin

Eh, who needs rapid growth, anyway? If growth is too rapid, you can’t spread the wealth fairly enough!/sarcasm


5 posted on 09/08/2010 1:22:53 PM PDT by Frank_2001
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To: BenLurkin
New York, Philadelphia and Chicago, reported economic growth was mixed or had slowed.

NYC (D), Philly (D), Chicago (D)............I think I see a pattern here...........

6 posted on 09/08/2010 1:31:05 PM PDT by Red Badger (No, Obama's not the Antichrist. But he does have him in his MY FAVES.............)
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To: Erik Latranyi

I could have told them that. We have had dwindling customer calls all year. I’m a commercial Realtor in a Indiana small town, and we have no buyers or lessees inquiring. We have tons of listings though.


7 posted on 09/08/2010 1:34:56 PM PDT by raisincane (Dims think we're all oblivious to the obvious)
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To: BenLurkin

Growth easing? What growth?


8 posted on 09/08/2010 2:05:05 PM PDT by eCSMaster
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To: BenLurkin
Well, Obama explained the lack of growth in his economic speech in Cleveland today - it's John Boehnor’s fault (sp?)... and Bush's fault.
9 posted on 09/08/2010 2:12:46 PM PDT by uncommonsense (Conservatives believe what they see; Liberals see what they believe.)
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To: BenLurkin

How slow can something be before it’s stopped?


10 posted on 09/08/2010 3:02:15 PM PDT by Lost Highway (I don't know what the world may need but a V8 engines a good start for me)
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