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A Setback

Simply Economics – June 14, 2002

Evelina M. Tainer, Chief Economist, Econoday

   

Economic figures were generally anemic this week showing that consumer spending remains subdued, confidence has eroded and production is moving at a snail’s pace. The Federal Reserve’s Beige Book, pointing to anecdotal evidence, said the economic recovery was mixed among regions but still moving along. The economic news, mixed together with worries over terrorism, sparked a rally in the Treasury market but hurt stocks.

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