Federal Reserve Sees Economic ‘Deceleration’

The economy is still growing at a
“modest pace,” but there are signs of a “deceleration” in growth compared with
past periods, according to the influential Federal Reserve Beige Book on
current economic conditions

“Consumer spending appeared to increase on balance despite
continued consumer caution that limited nonessential purchases,” the book also
said.

The Fed’s Boston and Cleveland
districts delivered the most optimistic reports, while New York, Philadelphia,
Richmond, Atlanta, and Chicago were more mixed.

The entire “Beige Book” can be seen here.