(by Ameli Berksman)

The U.S. Federal Reserve reported its confidence about the U.S. economy expanding despite of high oil prices and uncertainty before presidential elections.

"Economic activity continued to expand in September and early October," new survey for Fed showed.

The central bankers will bare in mind the report amid their next meeting November 10. The meeting is expected to reveal top bankers’ confidence about interest rates curbing.

Fed also reported consumer and business spending decreased on higher oil prices, but economic recession is uncertain. "Many reports suggested that higher energy costs were constraining consumer and business spending," the report said.

Home sales showed good results of 12.3% growth in the Midwest of the country, 6% in the Northeast and 2.7% in the South. Data for the West, however, performed worse with total drop of 0.8% in September.