Fed paints dreary economic picture
Posted: Thu Feb 09, 2012 9:25 amFed paints dreary economic picture
« Thread Started on Dec 3, 2008, 8:36pm »
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Fed paints dreary economic picture
Posted: 03:17 PM ET
By Ben Rooney
CNNMoney.com
NEW YORK (CNNMoney.com) — The Federal Reserve’s latest snapshot of the U.S. economy suggests that the central bank may continue to lower interest rates in the near future.
“Overall economic activity weakened across all Federal Reserve districts,” the Fed said in the December edition of its Beige Book, a report on current economic conditions.
Among the main drivers were a deterioration in vehicle sales, weak consumer spending, further contraction of lending and a noticeable decline in manufacturing activity.
The report also said retailers are preparing for a “relatively slow holiday sales season,” as consumers shy away from big-ticket purchases amid the weak economy.
« Thread Started on Dec 3, 2008, 8:36pm »
--------------------------------------------------------------------------------
Fed paints dreary economic picture
Posted: 03:17 PM ET
By Ben Rooney
CNNMoney.com
NEW YORK (CNNMoney.com) — The Federal Reserve’s latest snapshot of the U.S. economy suggests that the central bank may continue to lower interest rates in the near future.
“Overall economic activity weakened across all Federal Reserve districts,” the Fed said in the December edition of its Beige Book, a report on current economic conditions.
Among the main drivers were a deterioration in vehicle sales, weak consumer spending, further contraction of lending and a noticeable decline in manufacturing activity.
The report also said retailers are preparing for a “relatively slow holiday sales season,” as consumers shy away from big-ticket purchases amid the weak economy.