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Fed Slightly More Optimistic About U.S. Economy
The American economy expanded at a moderate pace from late February through early April, according to the Federal Reserve's Beige Book business survey.
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The American economy expanded at a moderate pace from late February through early April, according to the Federal Reserve's Beige Book business survey.
Economists were encouraged by the central bank's more positive tone compared to its reports earlier this year.
The Fed's district banks say growth has been bolstered by homebuilding, auto production and a modest increase in consumer spending. Labor markets across the country improved slightly or were unchanged.
But defense companies report furloughs and the idling of some factories in expectation of tighter future defense budgets.
Federal Reserve policymakers meet next on April 30-May 1.
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