U.S. Economy Expands as Labor Markets Improve, Fed Says

The Federal Reserve said the economy expanded at a “moderate” pace across much of the U.S. in February and March, led by manufacturing, with labor markets showing improvements in most regions.

“While many districts described the improvements as only moderate, most districts stated that gains were widespread across sectors,” the Fed said today in its Beige Book report in Washington. While higher commodity costs compelled sellers to try to raise prices, pressures to increase wages were “weak or subdued.”