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Wednesday, April 15, 2009

Breaking News: The Fed Beige Book April 15 2009

Breaking news: Beige book released: Overall this is showing a sign of the economy bottoming. This is the best report we've had in a while. Manufacturing was weaker in most districts. Housing was still weak but is showing signs of improvement. Consumer spending remained weak as well, but some districts reported that retail sales are starting to stabilize. Unemployment still seemed to lose steam as across most industries with very few reporting hiring. Signs of stabilization: 5 of 12 districts showed signs of housing declining compared to 10 of 12 in the last report. This is a good sign the economy may be bottoming. As the Fed said "Housing markets remained depressed overall, but there were some signs that conditions may be stabilizing". The market looks like it is gaining steam on this report.

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