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Ron Paul: Mr. Speaker, reclaiming my time, I think it would be absolutely proper to do that, as long as it came out of the gentleman’s wallet and we did not extract it from somebody in this country, a taxpayer at the point of a gun and say, look, bin Laden is a great guy. I want more of your money. That is what we did in the 1980s. That is what the Congress did. They went to the taxpayers, they put a gun to their head, and said, you pay up, because we think bin Laden is a freedom fighter.

  —Ron Paul

Federal Reserve sees moderate improvements in regional economy

 Federal Reserve sees moderate improvements in regional economy

The Federal Beige Book was released Wednesday.


 Federal Reserve sees moderate improvements in regional economy






Eigelbach Kevin Federal Reserve sees moderate improvements in regional economy
Kevin Eigelbach
Reporter- Business First

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The economy of the Federal Reserve’s 


Eighth District, which includes the Louisville area, continues to expand at a modest pace, the Federal Reserve reports in its most recent Beige Book on economic conditions.

Home sales increased throughout the district on a year-over-year basis. May 2012 year-to-date home sales were up 15 percent in Louisville, 7 percent in Little Rock, 21 percent in Memphis and 19 percent in St. Louis.

Housing permits increased 45 percent in Louisville, 26 percent in Little Rock, 41 percent in Memphis and 25 percent in St. Louis.

Commercial and industrial real estate conditions also improved moderately, with a Louisville contact reporting strong leasing activity for premium office space in the city’s central business district. Office vacancy rates were mixed in other Louisville sub-markets, the report said.

Several manufacturers within the Eighth District reported plans to open plants and expand operations in the near future, especially in the auto, appliance, wall coverings, food, construction machinery, factory components and packaging industries.

Service industries that reported plans to expand and hire new workers included medical transportation, waste management and business support services. Industries in which firms planned to lay off workers included newspaper publishing, telecommunications, educational services and merchant transaction services.

General retailers have reported stronger sales recently and auto dealers have reported year-over-year increases in sales.

For the full report, click here.

Kevin Eigelbach covers these beats: Financial services, residential real estate, property and casualty insurance, construction, unions, engineers, architects, agriculture, South End, Southwest County, Bullitt County.

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