Fed Reserve says the economy to further slow down

The US Fed Reserve released economy report yesterday that as the economy was slowing down and thus the loans were increasing, plus the corporations trimming workforce and the oil price maintaining high, it was expected by the market that the Fed Reserve might cut rate. 

The report pointed out the US economy was slowing down, of which manufacture industry in April and May continued to be in weak stance, retail sales and traveling business were slowing down, and business property market went soft. 

Roger Ferguson, vice chairman of Fed Reserve, said although the sales situation in April and May was upturning, while the number of layoffs in the corporations would continue to increase, the recession of US economy was not expected to stop.

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