Fed sees ‘widespread’ signs US economy is slowing
The US economic recovery is showing “widespread” signs of slowing, the US Federal Reserve warned Wednesday, as it gears up for a key policy meeting later this month.
The central bank reported “continued growth in national economic activity” between mid-July and the end of August, “but with widespread signs of a deceleration.”
The latest Beige Book report, an economic survey which will guide a September 21 policy meeting, painted a dour picture of the health of the economy, with an uneven recovery across the country and across sectors.
The picture from the real estate market showed how deep the crisis remains, with private demand struggling to keep pace after a government tax break was removed.
(Excerpt) Read more at news.yahoo.com
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