Fed Beige Book: U.S. economic growth remains slow.

U.S. Federal Reserve on Wednesday (3) released the Beige Book showed that economic growth is very slow in the country difficult; While the recent fall in international oil prices, consumer prices remained high. .<P Style=FONT-SIZE: 10.5pt; MARGIN: 0px> </ P> <P style=FONT-SIZE: 10.5pt; MARGIN: 0px> </ P> <P style = FONT-SIZE: 10.5pt; MARGIN .: 0px> General from the U.S. Federal Reserve regional banks 12, after the information that the public consumption remains weak, many people cut spending on luxury goods. .Slowdown in household spending in most areas, spending more concentrated in essential, non-essential spending. .The report shows that car sales in all regions there are weak or declining, especially for large, high fuel consumption of sport-utility vehicle (SUV) and trucks. .Federal Reserve Bank of Philadelphia, said the housing market remains weak, commercial real estate market downturn. .</ P> <P style=FONT-SIZE: 10.5pt; MARGIN: 0px> </ P> <P style=MARGIN: 0px> signs, food and fuel prices are likely to climb even further. .The report supports the financial market expectations that the Federal Open Market Committee (FOMC) will be in the September 16 policy meeting to maintain official interest rates remain at the current 2 per cent. .Because there are signs that financial market pressures still exist, and the recent energy and commodity prices fell, many observers expect the Federal Reserve (Fed) will determine the current 2 to maintain the federal funds rate next year. .</ P> <P> Boston Fed President Eric Rosengren said on Wednesday, the pressure on the U.S. economy than the credit crunch during the early 1990s, more robust. .This time, the credit crunch may impact on consumers and enterprises, and the impact of previous tightening mainly to small businesses. .He said that the credit crunch could push up the unemployment rate rose to 6%, since the financial turmoil began last summer has been more than 200 million people become unemployed. .The Fed's current benchmark interest rate of 2 PCT, not low, it will not cause inflation. .</ P> <P> some Fed officials suggested that the central bank should raise interest rates earlier, Rosengren not agree, he said low interest rates helped offset the negative effects of some of the credit crunch. .</ P> <P> U.S. Department of Commerce last week, economic growth in the second quarter of this year from the original estimate of 1.9%, revised up to 3.3%. .U.S. economic rebound and strong exports, weak U.S. dollar and government tax measures to stimulate consumption-related. .</ P> <P> This is the United States since 2007, the highest since the 3rd quarter economic growth figures. .U.S. economy in the last quarter of 2007, there was a 0.2% decline, while only 0.9% in the first quarter of this year's growth. .U.S. Federal Reserve has warned that the economy will remain weak in the state this year. .</ P> <P style=FONT-SIZE: 10.5pt; MARGIN: 0px> Beige Book points: </ P> <P> 1 in most regions reported slowdown in economic activity; </ P> <P> 2 most .Area housing market activity continued to weaken or weakness; </ P> <P> 3 weak and sluggish business conditions; </ P> <P> 4 from the energy, commodity and food prices rising price pressures in almost all regions .; </ P> <P> 5 most parts of the consumer spending slowdown; </ P> <P> 6, compared with July, labor market conditions remain the same or have gone soft; </ P> <P> 7 Manufacturing .industry weakness, but provide some support for export; </ P> <P> 8 increase in raw material costs, companies increase sales price; </ P> <P> 9 on the mortgage and consumer loan demand. .</ P>.