Beige Book Sees Moderate Expansion

From the Wall St Journal: The U.S. economy expanded at a moderate pace between early April and late May, though turmoil in Europe and political uncertainty in the U.S. worried some employers, the Federal Reserve said in a report released Wednesday.

The economy expanded at a moderate or modest pace in the central bank's 12 districts, the Fed said in its latest beige-book report, based on anecdotes collected from business contacts and economists spread across the nation.  Hiring was steady and manufacturing continued to expand in most districts, with particular strength in auto and steel manufacturing, the Fed said in the report.  Economic outlooks remain …

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