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Overall, the U.S. Economy continues to improve but appears to have hit a soft patch. Some leading indicators were fractionally positive, many stayed more or less the same and a few turned slightly negative. Additionally, the Fed is providing additional information on its bond buying program, hinting at tapering, but being coy about what metrics beyond the inflation and unemployment rates it will be monitoring. Recent information from various Fed Governors has added to the discussion and generally points to the Fed continuing their bond purchase program through the end of the year and then tapering the amount of bonds they purchase over time. The Fed is not about to exit anytime soon and will continue to support economic growth as it sees fit well into 2015.
Currently, while we see a slowing in the U.S. Economic situation, we continue to believe this is a short term condition and our economy will continue to expand into the end of 2013 and the start of 2014. Internationally, while some economies are showing signs of improvements (Germany and France) other European economies and emerging economies appear to be treading water or losing ground to recessionary pressures. It will take longer for the global economies to emerge from recession. Read our full Economic Update post here.