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Oh, BTW... the FED Beige Book was pretty good
The Fed "Beige Book" report is one of the periodic Fed assessments of the economy. It was better this time than last time, and was responsible for some of the stock market happiness.
Being better than expected, it may play into the Fed doing less at the next meeting, which is not desirable. But since economic expectations for the election are being formed as we speak, this is a meaningful Good News thing.
Fed Beige Book points to moderate economic growth
(Reuters) - Economic growth in the United States picked up over the two prior months and hiring showed signs of a "modest increase," the Federal Reserve said on Wednesday.
"Reports from the twelve Federal Reserve Districts suggest overall economic activity expanded at a moderate pace during the reporting period from early April to late May," the central bank said in its latest "Beige Book" summary of national activity.
The Fed's previous Beige Book assessment of the economy, released on April 11, had painted growth in a more timid light, describing it as "modest to moderate."
...
http://in.reuters.com/article/2012/06/06/usa-fed-beige-idINW1E8G900L20120606
(Reuters) - Economic growth in the United States picked up over the two prior months and hiring showed signs of a "modest increase," the Federal Reserve said on Wednesday.
"Reports from the twelve Federal Reserve Districts suggest overall economic activity expanded at a moderate pace during the reporting period from early April to late May," the central bank said in its latest "Beige Book" summary of national activity.
The Fed's previous Beige Book assessment of the economy, released on April 11, had painted growth in a more timid light, describing it as "modest to moderate."
...
http://in.reuters.com/article/2012/06/06/usa-fed-beige-idINW1E8G900L20120606
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