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The Fed's Beige Book is a report card on the status of the US economy.
This month's report says that our economy is still weak, but improving modestly. There is little upward pressure on wages and finished goods. Eight of the 12 regions reported some improvement. Philadelphia, Cleveland, Richmond and Atlanta showed little change.
Commercial real estate ran counter to the trend with business contracts weak. A weak job market is showing spotty signs of improvement.
Interest rates still remain near zero.
A Reuters poll indicates that Friday's unemployment numbers will show a loss of 130,000 jobs. Consumer spending picked up modestly. House prices were still flat with little improvement.
Overall, the unemployment is getting worse, with the rest of the economy on hold.
Do you believe that 2010 will show an uptick in our economy?
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Reader Comments (Page 1 of 1)
12-02-2009 @ 8:36PM
william lindblad said...
On the Beige book little to disagree with.
On 2010 - depends on how the government is going to handle the inevitable commercial failures. This is going to be a hot potato and I really don't think that the taxpayer is going to readily accept anymore "bailouts". Since all in power have known this was coming, I am also sure that the subject has been given considerable thought. Perhaps another RTC? In any case it will take some fancy footwork.