Economics
Fed Says Economy Growing Modestly Amid Scant Price Pressures
- Labor market conditions stable, wage pressures still moderate
- Fed districts reporting growth expect it to ‘remain modest’
What the Fed Beige Book Signals About the Future of Rates
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The U.S. economy expanded at a modest pace since mid-May amid “slight” price pressures and some softening in consumer spending, according to a report from the Federal Reserve’s 12 districts that lacked any sense of urgency on the need to raise interest rates soon.
“The outlook was generally positive across broad segments of the economy including retail sales, manufacturing, and real estate,” according to the Fed’s latest Beige Book, an economic survey by reserve banks published eight times a year. “Districts reporting on overall growth expect it to remain modest.”