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'Rising costs for food and energy and higher unemployment pounded consumers and forced some companies to push their own prices higher.'
The Federal Reserve's new snapshot of business conditions, released Wednesday, underscored two big sore spots for the country: listless economic activity coupled with high energy and food prices. Those rising prices carry the risk of both spreading inflation and putting another drag on overall economic growth.
Chafing under price hikes, "consumer spending slowed...as incomes were pinched by rising energy and food prices:, the Fed said. Manufacturing activity, meanwhile, was "generally soft" and the housing market remained stuck in a rut.
"Don't believe the 'spin' you are hearing from Republicans--just look in your pocket," one high placed politician said.
In Florida 18,000--that's 18,000--restaurant jobs will be lost due to the economy within the next month!!!
