From the just published "Beige Book" The Fed follows that, in general, "economic activity continued to grow at a moderate pace, but in some districts indicated mixed or negative dynamics. Some regional banks, the Fed also noted that the recent volatility in the stock market and growing economic uncertainty have forced many companies to review short-term forecasts downwards. " Consumer spending rose slightly, while retail sales excluding auto sales, remained unchanged or declined slightly. Despite the bad weather, the tourist activity is high. The situation in the housing market remains weak loan demand stable. The labor market is stable, wage growth is minimal.
