US Economy Has Signs of Cooling as Hiring and Inflation Ease, Fed’s Beige Book Shows
- Pace of employment growth slowing, survey by Chicago Fed shows
- Prices rose moderately, but at slower rate in many districts
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The US economy showed signs of cooling in recent weeks as hiring and inflation eased slightly, the Federal Reserve said in its Beige Book survey of regional business contacts.
“Employment increased in most districts, though at a slower pace than in previous reports.” the Fed said Wednesday in the report, published two weeks before each meeting of the policy-setting Federal Open Market Committee. “Prices rose moderately over the reporting period, though the rate of increase slowed in many districts.”