Maybe the sky isn't falling

Market observations for the week of Sept. 6 to Sept. 10, 2010

Claymore Investments, Inc. 14 September, 2010 | 4:45AM

About every six weeks the U.S. Federal Reserve Board (the "Fed") releases a report titled the Beige Book. The report, which provides anecdotal information collected by the 12 Federal Reserve district banks, showed continued growth in economic activity but with "widespread signs of a deceleration."

For anyone paying attention, the fact that economic activity in the United States has slowed should not come as a big surprise. In fact, Wednesday's release of the report was generally shrugged off as old news.

While the overall indications were of slowing growth ahead, the slowdown does not yet appear drastic enough for the Fed to initiate a new round of stimulus at the upcoming Federal Open Market Committee (FOMC) meeting.

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Claymore Investments, Inc.

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