Fed “Beige Book” @ 2:00 pm ET
The U.S. economy is growing unevenly, with more than half the regions of the country expanding modestly while others are struggling to grow.
A new survey by the Federal Reserve finds that seven of the Fed’s 12 regions reported moderate improvements in business activity. Three regions — Philadelphia, Richmond and Cleveland — described economic activity as mixed or steady. Only two regions — Atlanta and Dallas — suggested economic growth was slow.
The new survey notes that the economy isn’t weakening but is growing too sluggishly to drive down the high unemployment rate.