The US Federal Reserve building is seen from the air over Washington, DC. The "modest" US economic recovery is slowing in some parts of the country, the Federal Reserve warned in its latest Beige Book report published Wednesday. (AFP/File/Saul Loeb)
Posted on 07/28/2010 2:14:44 PM PDT by NormsRevenge
WASHINGTON (AFP) – The "modest" US economic recovery is slowing in some parts of the country, the Federal Reserve warned in its latest Beige Book report published Wednesday.
"Economic activity has continued to increase, on balance, since the previous survey," the Fed said in a report, last published in early June, while noting significant head winds.
"Among those Districts reporting improvements in economic activity, a number of them noted that the increases were modest, and two districts, Atlanta and Chicago, said that the pace of economic activity had slowed recently."
The Fed's statement is unlikely to dampen concerns -- fanned by high unemployment and weak business confidence -- that the United States is slipping toward the second part of a double-dip recession.
There was also bad news from sectors that have been key pillars of the US economy, including the all-important jobs market.
Noting the "labor market conditions improved gradually in several districts," the Fed said five regions saw an increase in demand for temporary labor.
In five other regions "labor markets improved, albeit modestly in some cases."
There was also little sign of respite in the struggling housing market as government stimulus measures evaporated.
(Excerpt) Read more at news.yahoo.com ...
The US Federal Reserve building is seen from the air over Washington, DC. The "modest" US economic recovery is slowing in some parts of the country, the Federal Reserve warned in its latest Beige Book report published Wednesday. (AFP/File/Saul Loeb)
Don't we still have some 16"ers to use to put the Fed out of its misery?
Outside of DC and the government, it’s not faltering, it is non existent.
By the way, what percentage of your gross do you have to pay with zero income?
It’s a Recoveryless Recovery.
What is income?
...the most idiot-ridden Fed and Jack Squat administration in US history...
Ø = Nothing
try going down in flames.
DC and NYC insiders may be fine but main street is in deep deep do do.
banks are stepping up forclosures in order to overwhelm the courts.
the state bars with IOLTA account rules (interest on lawyer trusts goes to bar) are raking in MILLIONS.
Judges are not proptecting people, they are only protecting insiders.
same for bankruptcy trustees.
you will be indentured servitude to your imputed income.
it is called “peonage”, it was created in 2005 with the bankruptcy reform by lobyists hired by special interest groups who knew what was comming.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.