HiFX: Foreign Exchange Specialists

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June 11, 2008

The Fed's Beige Book failed to reveal any major surprises citing stagnant growth, tighter credit, rising prices and slowing consumer spending.  A muted response was noted as this outlook was to be expected following recent rhetoric from various Fed members.  With inflation pressures at the forefront of policy maker’s minds, a quick economic recovery seems unlikely at this juncture.