Fed Says Growth Slow, Inflation Modest

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The U.S. economy continued to grow from mid-June to early July, but showed signs of slowing as consumer spending seemed to decelerate and housing markets continued cooling, according to a Federal Reserve report released Wednesday, the Wall Street Journal reports.


All 12 Federal Reserve Districts “generally indicated continued economic growth” during the period, “with numerous individual reports pointing to evidence that the pace of growth has slowed,” the Fed said in its latest “beige book” report. Half of the Fed’s 12 districts reported slowing economic conditions: “Philadelphia, Cleveland, Richmond, Chicago, Dallas, and San Francisco reports each highlighted a decline in the overall rate of economic growth in their Districts,” the Fed report said.


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