The Federal Reserve Bank released its Beige Book, where the Feds signaled that economic activity remains weak though recently conditions have improved modestly, where 10 Districts reported that activity indeed increased, while 2 Districts reported mixed conditions.

The Feds signaled that consumer spending was better during the holiday season than that reported in 2008 yet compared to 2007 it remained rather weak, while auto sales stabilized or even increased slightly in most Districts. Moreover, the Feds signaled that housing market activity continued to improve towards the end of 2009, while the labor market remained weak in most Districts though the Feds signaled that some Districts started to show increased hiring, and prices pressures remained subdued in almost all Districts.