The Fed’s have released the Beige Book, which is a survey of economic conditions conducted by its district banks. Surveys conducted found that all 12 Fed districts are reporting economic growth, this is the first time this has happened since the deep recession hit in December 2007.
The U.S. is considered to be in a moderate recovery and we should expect to see continued growth through the next year, although un-employment is expected to remain higher than usual. Federal Reserve Chairman Ben Bernake has recently stated that, “it will take a significant amount of time to replace the jobs that have been lost during the recession. He pointed out signs of improvement, but cautioned that improvement in the vital housing sector has been shallow and remains vulnerable.
