Beige Book reveals rosy picture of US economy
Most regions report growth; labour market remains stable and car sales climb in most Fed districts
Washington
THE US economy is continuing to grow and the labour market is improving, the Federal Reserve said on Wednesday as it debates its first interest rate hike since 2006.
The Fed issued a snapshot of the economy known as the Beige Book, which is a collection of anecdotal information from the 12 Fed regional banks. Taken between mid-February through March, it gave a fairly upbeat picture of recovery from the harsh February weather that brought large parts of the country to a halt.
Ten of the Fed's 12 districts reported "moderate," "modest" and for one, "slight" growth, while conditions held "steady" in Atlanta and Kansas City, according to…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Luxury sector outlook clouded by China’s slow recovery
TikTok CEO expects to defeat US restrictions: ‘We aren’t going anywhere’
TikTok artists and advertisers to stay with app until ‘door slams shut’
Biden signs Ukraine aid, TikTok ban Bills after Republican battle
UAE announces US$544 million for rain repairs, says lessons 'learned'
HSBC says growing Chinese wealth fuels client investments in US