Economics

Fed Says Economy Growing in Most of U.S. as Weak Spots Emerge

Beige Book report shows ‘outlooks generally remained positive’
Survey shows optimism down on concerns over trade, volatility

WASHINGTON - JANUARY 22: The Federal Reserve building is seen January 22, 2008 in Washington, DC. The Fed cut its benchmark interest rate by three-quarters of a percentage point after two days of tumult in international markets due to fear of a recession in the United States. (Photo by Chip Somodevilla/Getty Images)Photographer: Chip Somodevilla/Getty Images North America

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By Christopher Condon

January 16, 2019 at 7:00 PM UTC

Updated on

January 16, 2019 at 7:06 PM UTC

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The still-strong U.S. economy showed signs of slowing in recent weeks amid declining optimism, though most regions continued to show modest to moderate growth, a Federal Reserve survey showed.

“Outlooks generally remained positive, but many districts reported that contacts had become less optimistic in response to increased financial market volatility, rising short-term interest rates, falling energy prices, and elevated trade and political uncertainty,” according to the report, released Wednesday in Washington.