The latest Federal Reserve Beige Book presents a mixed picture of the economy, with consumers and housing staying strong as the manufacturing, agricultural and energy sectors struggle, an article in MarketWatch said.
From the article:
The Fed’s Beige Book found modest growth in 9 of its 12 districts. Conditions were described as “essentially flat” in New York and Kansas City, while Boston reported conditions as “upbeat.”
There was little mention of the Fed’s December interest rate decision in the survey. Only contacts in Cleveland and Kansas City expressed concerns that higher interest rates may slow housing activity.
The Fed announced in December 2015 that it would raise the federal funds rate for the first time since June 2006.