Four of the 12 Federal Reserve districts reported slowereconomic growth while eight others said the expansion held steadyamid “uncertainty” stemming from the U.S. fiscal deadlock, thecentral bank said today.

Growth remained “modest to moderate” as consumer spendingmaintained gains and business investment grew, the Fed said todayin its Beige Book business survey. The report provides policymakers anecdotal accounts from the Fed districts two weeks beforethey meet to set monetary policy.

Employment growth “remained modest” in September, and price andwage pressures “were again limited,” the central bank said based oninformation gathered through Oct. 7, after the partial governmentshutdown began Oct. 1. Many contacts “noted an increase inuncertainty due largely to the federal government shutdown anddebt-ceiling debate,” the Fed said. “Retailers generally remainedoptimistic about the holiday shopping season.”

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.