Fed's Beige Book Shows Economic Slowdown

In recent weeks, sales of discretionary items and durable goods, like furniture and appliances, have declined.

By Reade Pickert | November 29, 2023 at 03:42 PM

Photo: Shoppers browse appliances inside a Best Buy store on Black Friday in Union City, California. Photographer: David Paul Morris/Bloomberg

U.S. economic activity slowed in recent weeks as consumers pulled back on discretionary spending, the Federal Reserve said in its "Beige Book" survey of regional business contacts.

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The Federal Reserve's preferred measure of underlying U.S. inflation rose at a tame pace in June and consumer spending remained healthy—two encouraging…

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