Fed's Beige Book Fuels Concerns About Labor Market
US Dollar Little Changed Amid Beige Book Economic Survey Report
News: 2012-07-18 18:27:00 UTC+00

Fed's Beige Book Fuels Concerns About Labor Market

U.S. economic activity continued to expand at a modest to moderate pace in June and early July, the Federal Reserve said in its latest "Beige Book" summary of national activity.

However, the report revealed strains in the labor market at job growth grew a slow pace across most of the twelve Federal Reserve districts.

The Beige Book reflects a series of disappointing jobs figures that suggest the Fed will again be called upon to give the economy a boost by easing monetary policy.

"Employment levels improved at a tepid pace for most districts," the Fed said.

Businesses responding to the Fed survey indicated concerns about the so-called "fiscal cliff" that Congress has been urged to avoid. Companies were holding back on hiring in the absence of clarity on the outlook for the economy.

Still, "Overall, districts reported that their contacts remained cautiously optimistic," the Fed said.

Published: 2012-07-18 18:27:00 UTC+00 10 months, 3 days, 19 hours, 26 min. ago
 
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