Fed Beige Book: U.S. Economy Expanded at Slight to Moderate Pace
The Federal Reserve’s Beige Book reported that U.S. economic activity grew at a slight to moderate pace across most districts, with contacts anticipating continued growth despite uncertainty over elevated fuel costs. Employment rose overall, though gains varied by district.
The Federal Reserve's Beige Book, a summary of economic conditions across the 12 Fed districts, indicated that the U.S. economy expanded at a slight to moderate pace in most regions during the reporting period.
Contacts expressed expectations that growth would continue, even amid uncertainty surrounding elevated fuel costs. On the labor front, employment increased overall, with five districts reporting hiring gains while seven saw little to no change in labor market conditions.
Source: First Squawk