Fed Report Shows Weak Growth Outlook for U.S.

The prospects for future economic growth in the U.S. still remain weak as high prices are forcing Americans to spend most of their income on daily necessities, shows a new report by the Federal Reserve. The Federal Reserve Bank of San Francisco released a report on Wednesday, saying that US economy was balanced between “slight to modest” growth and softening in early July but is headed for “a generally weak” six to 12 months. “The outlook for future economic growth remained generally weak, with contacts noting expectations for further softening of demand over the next six to twelve months,” the…