Economy Grew At 'Moderate Pace' In April And May, Federal Reserve Says

[Purveyor]

Source: National Public Radio

Anecdotal reports from across the nation "suggest overall economic activity expanded at a moderate pace" from early April through late May, the Federal Reserve just reported.

In its "beige book" review of conditions around the country, the Fed said the only one of its 12 bank districts to report slower growth was Philadelphia.

The report also adds that: "Wage pressures overall were modest. Hiring was steady or increased slightly, and contacts in a number of Districts reported difficulties in finding qualified workers, particularly those with specialized skills. Price inflation remained modest across Districts, and overall cost pressures eased as the price of energy inputs declined."

And its introduction ends with this: "Economic outlooks remain positive, but contacts were slightly more guarded in their optimism."



Read more: http://www.kalw.org/post/economy-grew-moderate-pace-april-and-may-federal-reserve-says

[truedelphi]

1. Since 49 cents out of every dollar of profit goes to the Big Financial

Firms, the economy would have to be Total Kick Ass in order to help any ordinary American.

And of course, since 49 cents out of dollar of profit does go to them, the economy CANNOT be kick ass, as those folks at the top are not spreading the money around, but only "loaning" it out to themselves.