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Federal Reserve

Economy expands

16 Jul, 2014

The Federal Reserve reports in its Beige Book that consumer spending, manufacturing and job growth are expanding in all of its districts. Five of the 12 Fed districts note “moderate” growth, while the other seven see “modest” expansion.

Most districts were optimistic about the outlook for growth.

The Fed report finds that price pressures are largely contained, but notes higher prices for construction materials, meat and dairy products.