Beige Book: US regions are OK
The Federal Reserve said the economy in most regions grew in February even as bad weather impeded hiring, disrupted supply chains and kept customers away from stores and auto dealerships.
According to the central bank’s Beige Book business survey released yesterday, 8 of the Fed’s 12 districts “reported improved levels of activity, but in most cases the increases were characterized as modest to moderate.” The Fed said that “the outlook among most districts remained optimistic.”
The Beige Book may help policy makers decide whether to proceed this month with another $10 billion QE tapering. According to TD Securities, as winter ends, “you would be expecting to see growth bounce higher and job growth could also bounce higher.”