Fed: Falling Oil Prices Hitting Economic Growth

Federal Reserve officials are reporting concerns over the impact falling oil prices will have on an improving economy, according to the central bank’s latest “Beige Book” report.

The economic review, which the Fed releases eight times a year, reflected hopes for better growth but noted several problem areas.

Oil prices were seen as a boon to consumers but a problem for energy companies, with the Dallas Fed reporting that Texas energy firms were projecting hiring freezes and layoffs to accompany a 15 percent to 40 percent decline in demand.

CNBC

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