Fed Beige Book finds positive outlook

 Fed Beige Book finds positive outlook

The U.S. economy is continuing to grow at a moderate pace and the economic outlook is positive, the Federal Reserve reported Wednesday, in an assessment that is likely to keep it continuing to pull back, or taper, its stimulus program. The so-called Beige Book found that consumer spending was higher, manufacturing continued to grow steadily and real estate continued to improve. Two-thirds of the 12 districts reported increases in hiring. Wage and price pressures were seen as contained. Some service-sector firms are planning to raise selling prices in the near term, the report said