Fed Beige Book finds steady growth, cooling housing market
WASHINGTON (MarketWatch) - Although Federal Reserve forecasters expect the economy to slow later this year, the message from a Fed survey of economic conditions through mid-April is "not yet." Only the New York region out of 12 Fed districts reported the rate of growth "may have slipped a bit," through mid-April, according to the Fed's Beige Book report on economic conditions released on Wednesday. Most of the other districts reported growth continued to expand, although a different rates. Three Fed districts - Minneapolis, Kansas City and San Francisco - reported "solid" growth, while others described the rate of growth as "modest" and "steady." The picture that emerges of the economy is not much different that the last beige book report released in mid-March, when the Fed found steady, unspectacular growth.
