The Fed reports (weak) growth in economy
This final note today, about the Fed’s Beige Book, something that, honestly, we ordinarily only mention when we’ve got extra time to fill. The Fed’s regional report on the American economy that came out today was remarkable for its uniformity.
For the first time in I don’t know how long, any good news the Beige Book’s had to offer in one part of the country was tempered by weakness in one or more other parts. Not today. The Fed reports economic growth everywhere. It’s weak. But growth all the same.
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