Fed Beige Book Shows Economy Grew Modestly

Fed Beige Book Shows Economy Grew Modestly

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Business

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Hard

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The Fed's Beige Book report highlights economic activity across districts, noting slowdowns in Boston and Chicago, and flat activity in New York. Consumer spending remains weak, with lower car sales and retail issues. Despite this, other data suggests a consumer rebound since April. The tight labor market affects wage growth, with businesses struggling to find workers. Some firms increase wages, while others use benefits and automation to retain staff. Housing prices rise due to low inventory, but the overall business tone is positive, though optimism is waning in some areas.

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5 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What recent trends were observed in economic activity in Boston and Chicago?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

How did consumer spending change according to the report?

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

What impact is the tight labor market having on wage growth?

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4.

OPEN ENDED QUESTION

3 mins • 1 pt

What strategies are businesses using to retain workers?

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5.

OPEN ENDED QUESTION

3 mins • 1 pt

What was noted about housing prices in the report?

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OFF