June 5 - Reuters Correspondent Jonathan Spicer discusses the Fed's Beige Book findings that point to 'modest or moderate' pace of economic growth.
Well the Fed released its Beige Book of economic conditions. This afternoon if the last best look we have. At how the Fed is is sort of viewing the broader economy goes into it very critical. June 18 and nineteenth at Valencia meeting if you thought you get some sort straight answers as to what Ben Bernanke and his fellow policy makers will do there. You you -- be disappointed today. That's said. Interestingly the Beige Book pointed to modest. And modest or moderate. Pace of economic growth for car across the board. That's slightly less rosy than in the last Beige Book which pointed to moderate pace of economic growth. Tom also appointed to measured pace of hiring in the twelve regions across United States -- and of course is very important as the Central Bank tries to ratchet down. He still high unemployment rate at some point 5% or was. In the month of April. And that's the Fed tries to get sort of sustained economic growth. Once it -- that it would be able to take its foot off the monitoring gas pedal stop buying 85 minute billion dollars in bonds for -- maybe though that. By 20/20 530 billion obviously is the big question as investors across the world. Really look toward the stuff away MC meeting. We've seen sort of run up by fifty basis points in the treasury bonds in the last month. And the last sort of word we got from Bernanke and his testimony a couple of weeks ago was that. He could see the Fed. Tapering its bond buying if it sees some additional traction in the economy and if it feels that labor market improvement will be sustained. He said that he can do that and the next. -- --