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July 24, 2008
Fed: U.S. Economy Continues To Slow
Economic activity continues to be weak across the U.S., according to the latest Fed report. The economy is being stunted by high fuel and food costs, the Fed said.
Analysts are now predicting that the Fed will keep interest rates steady at 2% to keep inflation at bay.
The report contained little positive news about the economy saying that the housing market still faces declines, along with tourism and the manufacturing sector.
While the Fed report did not give an outlook for the remainder of the year, here at Blacks, we predict a slight uptick in the second half. Retail cycles typically last 18 to 24 months and we've been in this down cycle for almost two years, meaning it's time for an upswing.
Posted by Blacks on July 24, 2008 10:29 AM
