Economics
Fed Says Price Pressures Rising With Economic Growth Steady
- Beige Book shows a ‘slight improvement in the outlook’
- Survey could bolster case for Fed rate hike in December
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The U.S. economy grew at a modest to moderate pace through mid-November as price pressures strengthened and the labor market tightened, a Federal Reserve survey showed.
The central bank’s Beige Book economic report, based on anecdotal information collected by the 12 regional Fed banks through Nov. 17, said business contacts also reported a brightening view as they look ahead. The findings could help bolster the case for an interest-rate increase when policy makers next meet in two weeks.