WASHINGTON — The Federal Reserve says the economy was expanding at a “slight-to-moderate pace” in March and early April, with some regions seeing signs of strengthening after a winter slowdown.
In its latest report on economic conditions around the country, the Fed says that the reports on manufacturing were favourable, although some business contracts noted uncertainty caused by tensions over President Donald Trump’s get-tough trade policies.
The Fed report, known as the beige book, says that tariffs imposed on imports, higher shipping costs and rising wages had all contributed to some increase in input costs.
The beige book findings will form the basis for discussion when central bank officials meet on April 30-May 1 to discuss interest rates. The wide expectation is that the Fed will keep its policy rate unchanged.
Martin Crutsinger, The Associated Press