Just yesterday the Federal Reserve Minutes were released.  Today, the Conference Board released its assessment of the economy.

Like the Federal Reserve, the Conference Board paints a dismal picture of the economy, with a few bright spots.  To view the Conference Board’s Press Release, click here.

MSNBC reported a small blurb on the Conference Board’s findings.  That story can be read here.

What I find interesting in the MSNBC story is that a Global Insight Economist was quoted as saying,”What we’re seeing is that it’s very, very close to capitulation.”

As the housing problems continue to linger, I am starting to see the “D” word being used for certain sectors of the economy.  One such sector that is tagged as being in depression is housing.

The Conference Board’s report does not appear to have influenced the stock market.  At midday trading, the DOW is 50 points lower and the NASDAQ is 6 points lower.

One bright spot in today’s news is that weekly unemployment claims declined.  However, this is expected to be temporary and possibly influenced by California’s Unemployment Offices being closed for a state holiday - thus leaving one less day to file for unemployment benefits.

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