Jeffry Bartash of MarketWatch reports that the Fed’s Beige Book indicates that the U.S. economy keeps growing, but also that businesses are less gung-ho and are more pessimistic. He writes:
The latest findings in the Beige Book suggest the economy is unlikely to speed up until inflation slows further and the Fed is able to cut high U.S. interest rates.
The 2024 presidential election also appears to be weighing on the economy, the survey indicated. […]
Some businesses were expected to cut back on spending or postpone plans until the outcome of the election was known.
The ongoing conflict between Israel and Hamas was also cited as a concern.
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