WASHINGTON (MarketWatch)
The U.S. economy
grew at a “modest to moderate” pace in July and August, the Federal Reserve
reported Wednesday, sticking with language that the central bank has used for
much of the year
The Fed’s so-called Beige Book, a collection of anecdotes
on the economy, found modest expansion in the manufacturing sector; rising
consumer spending in most Fed districts; a slight increase in services activity;
and moderate residential real estate sales
The latest Beige Book comes two weeks before the Fed’s
next policy meeting, at which many economists expect the central bank to start
to scale back its asset purchases
At their last meeting, Fed officials
agreed that the economy will improve later this year, allowing the central bank
to begin tapering bond buying before the end of the year
But they didn’t signal
exactly when they’d start to slow purchases
The Fed has pledged to keep buying Treasury bonds and
mortgage-backed securities until there is a substantial improvement in the U.S.
economy and the labor market
Its aim has been to stimulate the economy by
keeping long-term borrowing costs low for consumers and businesses
Previously Fed officials showed concern that rising
mortgage rates would be a drag on economic growth in the near term
Yet the
Beige Book shows that real estate sales have continued despite higher rates
“Residential real estate activity increased moderately in
most districts, and demand for nonresidential real estate gained overall,”
The Federal Reserve is seen as intent on making a first, small, reduction in the pace of tis asset purchase plan in September, according to experts at the central bank’s conference in Jackson Hole
The report is one of the remaining pieces of the economic puzzle that will inform the Fed’s upcoming policy meeting on Sept. 17-18
The Federal Reserve is seen as intent on making a first, small, reduction in the pace of tis asset purchase plan in September, according to experts at the central bank’s conference in Jackson Hole
The report is one of the remaining pieces of the economic puzzle that will inform the Fed’s upcoming policy meeting on Sept. 17-18
San Francisco Fed President John Williams
said
reducing securities purchases later this year and ending them in mid-2014
remains “the best course forward,” assuming economic forecasts stick
The Fed said that for most occupations and industries,
hiring “held steady or increased modestly” compared with the last period covered
by the Beige Book
“Upward price pressures remained subdued, and prices
increased slightly during the reporting period,” the Fed said
“Wages continued
to be modest overall.”
This Beige Book was written by the San Francisco Fed
The
12 Fed districts take turns writing the report
3 comentarios:
Fuerte Subida de la Productividad en USA.
Igual que en La Eurozona, que no harta de despedir a todo el mundo, son incapaces de bajar el Paro
Fuerte Deflación Salarial en USA a nivel Trimestral, Lógico y Normal,Contratan a mucha gente y deben bajar Salarios.En Eurozona NO CONTRATAN
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