Economic growth has slowed since earlier in the year
Reports from the 12 Fed districts painted a picture of "widespread signs of a deceleration.
Economic growth at a modest pace:
- St. Louis,
- Kansas City,
- San Francisco
- New York,
- Poor home sales,
- Weak demand for commercial space,
- Residential real estate markets continuing to decline,
- Inventories of available homes rose in general
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