Contact Us
Make My Homepage

Federal Reserve Bank’s Economic Report Modestly Optimistic [AUDIO]

The Federal Reserve Bank’s 12 economic regions have been heard from, and they gave the economy and cautious, ‘thumbs up” for this Spring.

Ben Bernanke
Federal Reserve Chairman Ben Bernanke (Chip Somodeville, Getty Images)

The Fed survey shows growth in each of its12 bank districts from April 3 through May 25. Growth was moderate or modest in 10 districts and steady in the Boston district. Hiring was steady or rose modestly. That’s in stark contrast to the government’s jobs report last week that said employers added the fewest jobs in a year in May.

Welcome news for sure, after a run of bad jobs reports and continued Euro phobia. The so-called, “Beige Book” report showed growth for most regions this spring in 10 districts. Rider University economist Maury Randall says the report might also mitigate speculation the fed will announce “quantitative easing” measures this month to stimulate the economy….in other worrds…printing money. He says, “it seems that that is a little less likely, at least at the June meeting, because of these results.

Manufacturing and home sales improved in most districts. And businesses sought more loans, which could signal expansion plans. But consumer spending was flat to only modestly positive in almost all districts.

But the Fed’s Philadelphia region, which includes part of South Jersey, reported slower growth, so that may be a fly in the local economic growth ointment.

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Best of NJ101.5

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for New Jersey Insiders quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive New Jersey Insiders contests, events, coupons, presales, and much more delivered to you for FREE.