Fed: Slower Growth, Rising Prices Wham Economy

July 23, 2008 2:01:33 PM PDT
The Federal Reserve says the country slogged through slower economic growth and rising prices during the summer, packing a double whammy to people and businesses alike. The Fed's new snapshot of business conditions, released Wednesday, also underscores the challenges confronting Federal Reserve Chairman Ben Bernanke and his colleagues as they try to get the economy back on track.