Economics
Fed Report Shows Weak US Growth Outlook With Inflation Cooling
- Prices elevated, but pace of increase moderating: Beige Book
- Residential real estate weakened, prices fell in all districts
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High prices and a tight labor market weighed on US economic prospects over the next year, though inflation showed signs of decelerating, the Federal Reserve said.
“The outlook for future economic growth remained generally weak, with contacts noting expectations for further softening of demand over the next six to twelve months,” the Fed said Wednesday in its Beige Book report, typically published two weeks before each meeting of the policy-setting Federal Open Market Committee.