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Fed Says Economy Grew ‘Moderately’ Amid Strong Manufacturing

  • Beige Book shows a subtle upgrade on U.S. economic outlook
  • Employment, prices rising ‘modestly’ to ‘moderately’ in survey
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Analyst Al-Hussainy Sees Fed Raising Rates Three or Four Times This Year

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The U.S. economy expanded moderately through much of April and May, a subtle upgrade from previous periods, with little indication of overheating, 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 May 21, said manufacturing showed “strong” gains, while employment and prices continued to rise “modestly” or “moderately.”