Fed's Beige Book shows continued modest pace of economic growth

WASHINGTON (MarketWatch) - The Federal Reserve's business contacts reported a mixed picture, with the manufacturing, agricultural and energy sectors continuing to struggle while consumers and housing remain fairly solid. The Fed's Beige Book, released Wednesday, found modest growth in 9 of its 12 districts. Conditions were described as "essentially flat" in New York and Kansas City, while Boston reported conditions as "upbeat." The latest beige book covers activity from late November through Jan. 4. The report comes two weeks ahead of the Fed's next policy committee meeting, where officials......(read more)

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