Archive for the ‘Economy’ tag
Fed’s Evans Said U.S. Economy Faces Three-Front Battle
The downside risks to growth have recently risen and the economy is
expected to be “extremely sluggish” in 2008, according to one Fed
official on Friday.
Chicago Fed President Charles Evans (non-voter) said
the U.S. economy faces a triple-front threat as growth risks are on the
rise, inflation is “unsettingly high” and financial markets remain in
turmoil amidst depressed housing and auto markets.
Economists Dismiss Boost in U.S. Industrial Production Report
Economists say the unexpected boost in the Fed’s industrial
production report doesn’t change the overall trend in the
economy, which is clearly on a downward slope. The report unexpectedly
rose 0.2% in the month of July, against expectations that it would come
in flat, while the previous month’s gain was downwardly revised one-tenth
to 0.4%.