A quick look at

the economy

Overview of the economy

Economic growth - barely acceptable

Employment growing, but should be faster

Inflation remains moderate

Washington politics creating unneeded uncertainty

and disruption for an already struggling economy

Federal Reserve is still waiting for fiscal policy to

show up to the party, leaving the punchbowl out

SF housing continues to recover from a low level

MF housing largely recovered, but still room to grow

Lenders slowly loosening lending standards

Risks to the

economy

Risks to the economy

The federal budget/shutdown

The federal debt ceiling

Sharp cuts to federal government spending in the

near term resulting from an agreement on the

budget or debt ceiling

Europe

European government debt default

The euro

Energy (oil) prices