U.S. Federal Reserve that U.S. economic growth slowed down inflationary pressures intensify

U.S. Federal Reserve Board on the 23rd on the national economic situation report said that in the past few weeks, U.S. economic growth slowed down, while inflation pressures are increasing.

The report is based on their 12 regional Fed Reserve Bank of the latest survey compiled from the results, including the information contained in the July 14 prior to the collection. Reported that, in addition to the two regions to maintain economic growth, the other 10 districts reported economic slowdown.

In addition, all 12 regions reported price increases pressure on the increase, steel, chemicals and food prices both rose. To shift the pressure of rising costs, many parts of the manufacturers are planning price increases, but some manufacturers also worry that price increases could affect sales.

The report holds that although the U.S. government's economic stimulus plan was to promote the sales of certain products, but overall consumer spending still weak and slow-down situation. In addition, the housing market continues to deteriorate, housing sales and prices continue to drop both. The suspension will affect the credit crunch, bank lending standards more stringent.

Fed released eight times a year called the "Beige Book" survey of the economic situation. In August 5 will be held next Fed monetary policy decision-making regular meeting, the report will be an important reference materials. Some economists believe that, given the weak U.S. economic growth, but also intensify inflationary pressures, the short term the Fed is likely to continue to keep rates unchanged.