Fed Offers Tepid View of Economic Picture

Federal Reserve officials painted a mostly uninspiring picture in their latest economic assessment, calling growth overall “slight” or “moderate” across most of the country.

Overall, the Fed’s 12 districts did report strength in real estate and housing. However, manufacturing in recent days has been “weak” and retail sales “mixed,” according to the latest Beige Book account.

District observers blamed much of the weakness on a West Coast port strike, inclement weather and lower oil prices. There were oil-related layoffs across several districts and only “modest” or “moderate” wage pressures.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.