The big bank known as Federal Reserve released its “Beige Book” of economic conditions (aka Summary of Commentary on Current Economic Conditions).  Four districts of the United States show a slow down in economic activity.

Activity in the New York (district 2), Philadelphia (district 3), Atlanta (district 6) and Chicago (district 7) regions are slowing down.  The Federal Reserve blames the down turn on everything from the March 11 disasters in Japan, to a weak housing market, to increasing food and energy prices.

Their are 12 Federal Reserve districts in the United States.  The Beige Book will be presented at a Federal Reserve meeting on June 21.