The Federal Reserve on Wednesday released the Beige Book report, the U.S. economy in June and early July, the growth rate from mild to moderate ", mainly due to certain areas of retail sales and manufacturing activity has been cooling.
The Fed said in a report: "in most parts of the Federal Reserve where manufacturing activity continued to slow expansion, the pace of improvement in employment levels tepid." The report said, the New York Fed, Philadelphia Fed, Cleveland Fed pointed out that their region's economic activities continue to expand, but slowed down compared to the speed with the last Beige Book report released; Richmond Fed reported that economic activity in their region were mixed.
Atlanta Federal Reserve Bank, St. Louis Fed and the San Francisco Federal Reserve reported that their region's economic activities, "moderate growth", Boston, Chicago, Minneapolis, Kansas City and Dallas Fed reported "steady growth". This compares with the last Beige Book report released on June 6, 7 local Federal Reserve reported "moderate" growth of their region's economic activities, only one of the local Federal Reserve reported a slowdown .
The report stated: "In addition to the Boston Federal Reserve and the Cleveland Fed and the New York Federal Reserve, all other Fed reported that its retail sales in the region a slight increase, which the Boston Fed and the Cleveland Federal Reserve reported that retail sales were flat, the New York Federal Reserve reported weakness . "
Beige Book report also said that the housing market report "seem favorable to a large extent, have increased levels of sales and construction, housing inventory declined. In addition, the rental market continues to strengthen". For the manufacturing sector, the Fed said in a report: "in most parts of the manufacturing activity has been slow to expand, including Cleveland, Atlanta, Chicago and Kansas City Federal Reserve reported that its level of production in the region increased slightly. However, there are several local Federal Reserve reported a slowdown in new orders. "
The report, Federal Reserve Chairman Ben - Ben Bernanke (Ben S. Bernanke) formed to support the U.S. economy lost its growth momentum in the first half of 2012. Bernanke continues today to testify to Congress, reiterated the progress made by the U.S. economy, the unemployment problem may be "frustratingly slow", and pointed out that the Fed stood ready to take further action when necessary to provide support for economic recovery process.
The Beige Book report released today reflected in 12 of the information collected by the local Federal Reserve before July 9, is made by the Atlanta Fed concluded. Hold its next monetary policy meeting, the U.S. Federal Open Market Committee (FOMC) will this Beige Book report reflects information weighed before. The Committee from July 31, convened to develop a two-day monetary policy meeting, decided to extend the "distortions operating plan in last month's meeting.
September 21, 2011, the U.S. Federal Open Market Committee decided to adopt the so-called "distorted operation (Operation Twist,), is to lengthen the average maturity of bonds held assets, plans to buy before the end of June 2012 $ 400,000,000,000 U.S. Treasury bonds, the remaining maturity between 6 to 30 years; sell the same amount of U.S. Treasury bonds, the remaining maturity of 3 years or less.



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